Refer the following table. Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) Saved 2023 2022 2021 Cash $ 75 $ 26 $ 38 Accounts receivable (net) 124 62 50 Inventory 206 242 202 Prepaid rent 86 50 38 Plant and equipment (net) 860 838 830 Accounts payable 110 67 57 Accrued liabilities 98 134 91 Income tax payable 31 19 26 Preferred shares 134 134 134 767 Common shares 254 254 254 Retained earnings 612 568 610 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 13 Net sales Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2023 $1,480 526 2022 $1,264 454 Cost of goods sold Gross profit Operating expenses: Depreciation expense Other expenses Total operating expenses Profit from operations Interest expense Income tax expense Profit $ 954 $ 810 $ +A 76 $ 76 508 352 584 428 $ 370 +A $ 382 45 52 35 54 $ 273 $ 293 Required: Calculate Airspace's liquidity and efficiency ratios for 2023 and 2022. (Round the final answers to 2 decimal places. Use 365 days a year.) Ratio 2023 2022 Required: Calculate Airspace's liquidity and efficiency ratios for 2023 and 2022. (Round the final answers to 2 decimal places. Use 365 days a year.) 13 Ratio Current ratio 2023 2022 :1 :1 Quick ratio :1 :1 Accounts receivable turnover times times Days' sales uncollected days days Inventory turnover times times Days' sales in inventory days days Total asset turnover times times Accounts payable turnover times times Analysis Component: Identify whether the change in each ratio from 2022 to 2023 was favourable or unfavourable. Ratio Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover Favourable/ Unfavourable 13