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Refer the following table Airspace Technologies Inc Comparative Balance Sheet Information November 30 (millions of S) 2017 $ 79 128 210 90 900 114 102 35 138 258 616 2016 2015 Cash Accounts receivable (net) Inventory Prepaid rent Plant and equipment (net) Accounts payable Accrued liabilities Income tax payable Preferred shares Common shares Retained earnings 30 42 246 858 138 206 54 71 23 834 61 95 30 138 258 614 138 258 572 Airspace Technologies Inc. Income Statement For Year Ended November 30, 2017 (millions of S) 2017 2016 $1,344 Net sales Cost of goods sold $1,560 546 474 S 870 $ 84 $1,014 Gross profit Operating expenses Depreciation expense Other expenses $ 84 516 360 Total operating expenses 600 Profit from operations Interest expense Income tax expense $ 414 53 60 $ 426 43 62 Profit $ 301 $ 321