Refer the following table.

Focus Metals Inc.

Comparative Balance Sheet Information

November $30$

$($millions of $$)$

$20232022$

Cash $ $21$ $ $91$

Accounts receivable $($net$)406252$

Inventory $7063$

Plant and equipment $($net$)2,6462,730$

Accounts payable $287203$

Long$-$term notes payable$*1,7502,310$

Common shares $350350$

Retained earnings $756273$

$*90\%$ of the plant and equipment are secured by long$-$term notes payable.

Focus Metals Inc.

Income Statement

For Year Ended November $30$

$($millions of $$)$

$20232022$

Net sales $ $2,730$ $ $1,932$

Cost of goods sold $952742$

Gross profit $ $1,778$ $ $1,190$

Operating expenses:

Depreciation expense $ $98$ $ $98$

Other expenses $735602$

Total operating expenses $833700$

Profit from operations $ $945$ $ $490$

Interest expense $135169$

Income tax expense $4953$

Profit $ $761$ $ $268$

Required:

Calculate Focus Metals$$ solvency ratios for $2022$ and $2023.($Round the final answers to $2$ decimal places.$)$

Analysis Component:

Identify whether the change in each ratio from $2022$ to $2023$ was favourable or unfavourable.