15.00 points Refer the following table. Focus Metals Inc. Comparative Balance Sheet Information November 30 (millions of 2017 2016 Cash Accounts receivable (net) 410 Inventory 2,666 2,750 Plant and equipment (net) Accounts payable 1,760 2,320 360 Long-term notes payable' Common shares 275 Retained earnings '90% of the plant and equipment are secured by long-term notes payable. Focus Metals Inc Income Statement For Year Ended November 30 (millions of 2017 2016 Net sales $2,760 $1,962 962 Cost of goods sold $1,798 $1,210 Gross profit Operating expenses Depreciation expense 740 Other expenses Total operating expenses $503 140 174 Profit from operations Interest expense Income tax expense $768 $275 Profit