Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 2018 Cash $ 69 $ 20 $ 32 Accounts receivable (net) 118 56 44 Inventory 200 236 196 Prepaid rent 80 44 32 Plant and equipment (net). 800 808 824 Accounts payable 104 61 51 Accrued liabilities 92 128 Income tax payable 25 13 Preferred shares 128 128 838 85 20 128 Common shares 248 248 248 Retained earnings 606 562 604 Net sales Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2019 $1,144 2020 $1,360 Cost of goods sold 496 424 Gross profit $ 864 $ 720 Operating expenses: Depreciation expense $ 64 $ 64 Other expenses 496 340 Total operating expenses 560 404 Profit from operations $ 304 $ 316 Interest expense 33 23 Income tax expense 40 42 Profit $ 231 $ 251