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Refer the following table. Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 76 $ 27 Accounts receivable
Refer the following table. Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 76 $ 27 Accounts receivable (net) 125 63 Inventory 207 243 Prepaid rent 87 51 Plant and equipment (net) 870 843 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 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 $) 2020 Net sales $1,500 Cost of goods sold 531 Gross profit $ 969 Operating expenses: Depreciation expense $ 78 Other expenses 510 Total operating expenses 588 Profit from operations $ 381 Interest expense 47 Income tax expense 54 Profit $ 280 $ $ 78 354 432 $ 393 37 56 $ $ $ $ 300 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 Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover 2020 :1 :1 times days times days times times 2019 :1 :1 times days times days times times
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