7 oints Refer the following table. Focus Metals Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 34 $ 104 Accounts receivable (net) 458 304 Inventory 96 89 eBook Plant and equipment (net) 2,906 2,990 Accounts payable Long-term notes payable" Common shares Print Retained earnings 352 1,880 480 782 268 2,440 480 299 References Mc *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 $) Net sales Cost of goods sold Gross profit Operating expenses: Other expenses Depreciation expense Total operating expenses Profit from operations Interest expense Income tax expense Profit 2020 $3,120 2019 $2,322 1,082 872 $2,038 $1,450 $ 124 $ 124 800 667 924 791 $1,114 5 659 200 62 234 66 $ 852 $ 359 Required: Calculate Focus Metals solvency ratios for 2019 and 2020. (Round the final answers to 2 decimal pla Ratio Debt ratio 2020 100.00% 2019 100.00% Equity ratio 36.12% 22.30 % Pledged assets to secured liabilities 1 1 ps://ezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%25 Homework i Required: Calculate Focus Metals solvency ratios for 2019 and 2020. (Round the final answers to 2 decimal Ratio 2020 2019 Debt ratio 100.00% 100.00% Equity ratio 36.12% ok Pledged assets to secured liabilities 1 22.30 % 1 Times interest earned times times nt ences Analysis Component: Identify whether the change in each ratio from 2019 to 2020 was favourable or unfavourable. Debt ratio Equity ratio Ratio Pledged assets to secured liabilities Times interest eamed Favourable! Unfavourable