Refer the following table. Focus Metals Inc. Comparative Balance Sheet Information: November 30 (millions of $) 2020 Cash 16 86 Accounts receivable (net). 386 232 60 53 Inventory Plant and equipment (net) 2,546 2,630 Accounts payable 262 178 1,700 2,260 Long-term notes payable* Common shares 300 300 Retained earnings 746 263 *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 $) 2020 2019 Net sales $ 2,580 $1,782 Cost of goods sold 902 692 Gross profit $1,678 $1,090 Operating expenses: Depreciation expense Other expenses $ 88 577 Total operating expenses 665 Profit from operations 425 Interest expense 144 Income tax expense 48 Profit 233 $ 2019 88 $ 710 798 880 $ 110 44 726 S K Required: Calculate Focus Metals solvency ratios for 2019 and 2020. (Round the final answers to 2 decimal places.) Ratio 2020 2019 Debt ratio % % Equity ratio % % 1 :1 Pledged assets to secured liabilities Times interest earned times times Analysis Component: Identify whether the change in each ratio from 2019 to 2020 was favourable or unfavourable. Favourable! Ratio Unfavourable Debt ratio Equity ratio Pledged assets to secured liabilities Times interest eamed