Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 19 $ 89 Accounts receivable (net) 398 244 Inventory 66 59 Plant and equipment (net) 2,606 2,690 Accounts payable 277 193 Long-term notes payable" Common shares 1,730 2,290 330 330 752 269 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 $) 2020 2019 Net sales Cost of goods sold Gross profit Operating expenses: Depreciation expense Other expenses Total nnarating avnancas $2,670 $1,872 722 932 $1,738 $1,150 $ 94 $ 94 725 R10 592 (MILLIONS of sj 2020 2019 Net sales Cost of goods sold Gross profit $2,670 $1,872 932 722 $1,738 $1,150 Operating expenses: Depreciation expense 94 $ 94 Other expenses 725 592 Total operating expenses 819 686 Profit from operations $ 919 $ 464 Interest expense 125 159 Income tax expense 47 51 Profit $ 747 $ 254 Required: Calculate Focus Metals solvency ratios for 2019 and 2020. (Round the final answers to 2 decimal places.) Ratio 2020 2019 Debt ratio Equity ratio: % % % % Pledged assets to secured liabilities Times interest eamed 1 1 times times 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 earned Favourable! Unfavourable