Refer the following table. 63 Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 76 $ 27 Accounts receivable (net) 125 Inventory 207 243 Prepaid rent 51 Plant and equipment (net) 870 Accounts payable 111 68 Accrued liabilities 99 135 Income tax payable 32 20 Preferred shares 135 135 Common shares 255 255 Retained earnings 613 569 87 843 2018 $ 39 51 203 39 831 58 92 27 135 255 611 2019 $1,284 459 $ 825 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of S) 2020 Net sales $1,500 Cost of goods sold 531 Gross profit $ 969 Operating expenses: Depreciation expense 78 Other expenses 510 Total operating 588 expenses Profit from operations $ 381 Interest expense 47 Income tax expense 54 Profit 280 $ 78 354 432 $ 393 37 56 300 Required: Calculate Airspace's liquidity and efficiency ratios for 2020 and 20 year.) 2020 2019 2.39:1 Ratio Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover 2.05 :1 0.83 :1 15.96 times 22.87 days 2.36 times 154.66 days 1.16 times 5.93 times 0.56:1 22.53 times 6.40 days 2.06 times 177.18 days 1.07 times 7.29: times Analysis Component: Identify whether the change in each ratio from 2019 to 2020 was fa Favourable! Unfavourable Ratio Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover