Refer the following table. Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 77 $ 28 Accounts receivable (net) 126 64 Inventory 208 244 Prepaid rent 88 52 Plant and equipment (net) 880 848 Accounts payable 112 69 Accrued liabilities 100 136 Income tax payable 33 21 Preferred shares 136 136 Common shares 256 256 Retained earnings 614 570 2018 $ 40 52 204 40 832 59 93 28 136 256 612 2019 $1,304 464 $ 840 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2020 Net sales $1,520 Cost of goods sold 536 Gross profit $ 984 Operating expenses: Depreciation expense $ Other expenses 512 Total operating expenses 592 Profit from operations $ 392 Interest expense 49 Income tax expense 56 Profit $ 287 80 $ 80 356 436 $ 404 39 58 $ 307 $ Required: Calculate Airspace's liquidity and efficiency ratios for 2020 and 2019. (Round the final answers to 2 decimal places. Use 365 days a year.) 2020 2019 1 1 1 1 Ratio Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory tumover Days' sales in inventory Total asset turnover Accounts payable turnover times days times days times times times days times days times times Analysis Component: Identify whether the change in each ratio from 2019 to 2020 was favourable or unfavourable. Ratio Favourable! Unfavourable Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory tumover Days' sales in inventory Total asset turnover Accounts payable turnover