Refer the following table.

Airspace Technologies Inc.

Comparative Balance Sheet Information

November $30$

$($millions of $$)$

$202320222021$

Cash $ $81$ $ $32$ $ $44$

Accounts receivable $($net$)1306856$

Inventory $212248208$

Prepaid rent $925644$

Plant and equipment $($net$)920868836$

Accounts payable $1167363$

Accrued liabilities $10414097$

Income tax payable $372532$

Preferred shares $140140140$

Common shares $260260260$

Retained earnings $618574616$

Airspace Technologies Inc.

Income Statement

For Year Ended November $30$

$($millions of $$)$

$20232022$

Net sales $ $1,600$ $ $1,384$

Cost of goods sold $556484$

Gross profit $ $1,044$ $ $900$

Operating expenses:

Depreciation expense $ $88$ $ $88$

Other expenses $520364$

Total operating expenses $608452$

Profit from operations $ $436$ $ $448$

Interest expense $5747$

Income tax expense $6466$

Profit $ $315$ $ $335$

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.$)$

Analysis Component:

Identify whether the change in each ratio from $2022$ to $2023$ was favourable or unfavourable.