Refer to Exhibit 17.14 and calculate Airspace?s liquidity and efficiency ratios for 2017 and 2016 (round answer to two decimal places).

Analysis Component: Identify whether the change in each ration from 2016 to 2017 was favorable (F) or unfavorable (U) and why.

Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) Cash Accounts receivable (net)....... Inventory. Prepaid rent.. Plant and equipment (net)...... Accounts payable......... Accrued liabilities.. Income tax payable. Preferred shares Common shares........ Retained earnings... ********** 2017 2016 $ 61 $ 12 110 48 192 228 72 720 96 84 17 120 240 598 36 768 53 120 5 120 240 554 2015 $24 36 188 24 816 43 77 12 120 240 596 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) Net sales. Cost of goods sold. Gross profit ******** Operating expenses: Depreciation expense.. Other expenses Total operating expenses.... Profit from operations.... Interest expense. Income tax expense Profit......... 2017 $1,200 456 $ 744 $ 48 480 528 $ 216 17 24 $ 175 2016 $ 984 384 $ 600 $48 324 372 $ 228 7 26 $ 195