Please full calculation and explanation.

Exercise 17-8 Liquidity and efficiency ratios-calculation and analysis LO4 Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2017 2016 2015 2017 2016 S Net sale 36 Cost of goods sold. $ 61 12 $ 24 $%1,200 $ 984 Inventory... 192 228 188 Gross profit $ 744 600 24 Operating expenses: Plant and equipment (net)720 768 816 Accounts payable Accrued liabilities Income tax payable Preferred shares $ 48 48 Depreciation expense.. Other expenses 46 84 53 120 324 372 528 216 228 12 120 120 120 Interest expense . 240 240240 Income tax expense Profit from operations .... $ 175 $ 195 Retained earnings . 598 nd calculate Airspace's liquidity and efficiency ratios for 2017 and 2016 (round answers to two decimal places). Analysis Component: Identify whether the change in eac unfavourable (U) and why. h ratio from 2016 to 2017 was favourable (F) or