Refer the following table. Focus Metals Inc. Comparative Balance Sheet Information November 30 (millions of $) 2023 2022 Cash $ 17 $ 87 Accounts receivable (net) 390 236 Inventory 62 55 Plant and equipment (net) 2,566 2,650 Accounts payable 267 183 Long-term notes payable* 1,710 2,270 Common shares 310 310 Retained earnings 748 265 *90% of the plant and equipment are secured by long-term notes payable. Focus Metals Inc. Income Statement For Year Ended November 30 (millions of $) Net sales Cost of goods sold 2023 $2,610 2022 $1,812 912 702 Gross profit $1,698 $1,110 Operating expenses: Depreciation expense $ 90 $ 90 Other expenses 715 582 Total onerating exnences 805 672 Focus Metals Inc. Income Statement For Year Ended November 30 (millions of $) 2023 Net sales $2,610 2022 $1,812 Cost of goods sold 912 702 Gross profit $1,698 $1,110 Operating expenses: Depreciation expense 90 $ 90 Other expenses 715 582 Total operating expenses 805 672 Profit from operations $ 893 $ 438 Interest expense Income tax expense 115 45 149 49 Profit $ 733 $ 240 Required: Calculate Focus Metals' solvency ratios for 2022 and 2023. (Round the final answers to 2 decimal places.) Ratio 2023 2022 Debt ratio % % Equity ratio % % Pledged assets to secured liabilities :1 :1 Times interest earned times times Analysis Component: Identify whether the change in each ratio from 2022 to 2023 was favourable or unfavourable. Ratio Debt ratio Equity ratio Pledged assets to secured liabilities Times interest earned Favourable/ Unfavourable