In its most recent balance sheet, Vosburg Inc. reported a debt-to-equity ratio of 1.85 to 1. This

Question:

In its most recent balance sheet, Vosburg Inc. reported a debt-to-equity ratio of 1.85 to 1. This ratio has increased slightly from the previous year when the ratio was 1.55 to 1. Assess Vosburg Inc.'s debt-to-equity ratio and the change in the ratio over the last year.