Refer the following table. Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 62 $ 13 Accounts receivable (net) 111 49 Inventory 193 229 Prepaid rent 73 37 Plant and equipment (net) 730 773 Accounts payable 97 54 Accrued liabilities 85 121 Income tax payable 18 6 Preferred shares 121 121 Common shares 241 241 Retained earnings 555 2018 $ 25 37 189 25 817 44 78 13 121 241 597 599 2019 $1,004 389 615 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2020 Net sales $1,220 Cost of goods sold 461 Gross profit 759 Operating expenses: Depreciation expense $ 50 Other expenses 482 Total operating expenses 532 Profit from operations 227 Interest expense 19 Income tax expense 26 Profit $ 182 $ $ $ 50 326 376 239 28 202 $ 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 2.20:1 0.871:1 :1 0.511:1 Ratio Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover 80.00 times 23.93 days 2.18 times 167.43 days 1.07 times 16.16 times 43.00 times 15.63 days 1.86 times 196 24 days 0.91 times 20.49 times Analysis Component: Identify whether the change in each ratio from 2019 to 2020 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 Favourable Favourable Unfavourable Unfavourable Favourable Favourable Favourable Favourable