Refer the following table. 2018 $ 34 46 198 Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 71 $ 22 Accounts receivable (net) 120 58 Inventory 202 238 Prepaid rent 82 46 Plant and equipment (net) 820 818 Accounts payable 106 63 Accrued liabilities 94 130 Income tax payable 27 15 Preferred shares 130 130 Common shares 250 250 Retained earnings 608 564 34 826 53 87 22 130 250 606 2019 $1,184 434 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2020 Net sales $1,400 Cost of goods sold 506 Gross profit $ 894 Operating expenses: Depreciation expense $ 68 Other expenses 500 Total operating expenses 568 Profit from operations $ 326 Interest expense 37 Income tax expense 44 $ 750 $ 68 344 412 338 27 46 Profit $ 245 $ 265 Required: Calculate Airspace's liquidity and efficiency ratios for 2020 and 2019. (Round the final answers to 2 decimal places. Use 365 days a year.) Ratio 2020 2019 Current ratio :1 :1 Quick ratio :1 :1 Accounts receivable turnover times times days days times times Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover days days times times times times Analysis Component: Identify whether the change in each ratio from 2019 to 2020 was favourable or unfavourable. Ratio Favourable! Unfavourable Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover