Refer the following table.

Focus Metals Inc.

Comparative Balance Sheet Information

November 30

(millions of $)

2020 2019

Cash $21 $91

Accounts receivable (net) 406 252

Inventory 70 63

Plant and equipment (net) 2,646 2,730

Accounts payable 287 203

Long-term notes payable* 1,750 2,310

Common shares 350 350

Retained earnings 756 273

*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 $2,730 $1,932

Cost of goods sold 952 742

Gross profit $1,778 $1,190

Operating expenses:

Depreciation expense $98 $98

Other expenses 735 602

Total operating expenses 833 700

Profit from operations $945 $490

Interest expense 135 169

Income tax expense 49 53

Profit $761 $268

Required:Calculate Focus Metals solvency ratios for 2019 and 2020. (Round the final answers to 2 decimal places.)