Question
Refer the following table. Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 2018 Cash $ 61 $ 12
Refer the following table. Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 2018 Cash $ 61 $ 12 $ 24 Accounts receivable (net) 110 48 36 Inventory 192 228 188 Prepaid rent 72 36 24 Plant and equipment (net) 720 768 816 Accounts payable 96 53 43 Accrued liabilities 84 120 77 Income tax payable 17 12 Preferred shares 120 120 120 Common shares 240 240 240 Retained earnings 598 554 596 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) Net sales Cost of goods sold Gross profit 2020 2019 $1,200 $984 456 384 $ 744 $600
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