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Refer to the following informatin for Rocket Inc. Rocket Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 2018 Cash $ 74

Refer to the following informatin for Rocket Inc.

Rocket Inc.
Comparative Balance Sheet Information
November 30
(millions of $)
2020 2019 2018
Cash $ 74 $ 25 $ 37
Accounts receivable (net) 123 61 49
Inventory 205 241 201
Prepaid rent 85 49 37
Plant and equipment (net) 850 833 829
Accounts payable 109 66 56
Accrued liabilities 97 133 90
Income tax payable 30 18 25
Preferred shares 133 133 133
Common shares 253 253 253
Retained earnings 611 567 609

Rocket Inc.
Income Statement
For Year Ended November 30
(millions of $)
2020 2019
Net sales $ 1,460 $ 1,244
Cost of goods sold 521 449
Gross profit $ 939 $ 795
Operating expenses:
Depreciation expense $ 74 $ 74
Other expenses 506 350
Total operating expenses 580 424
Profit from operations $ 359 $ 371
Interest expense 43 33
Income tax expense 50 52
Profit $ 266 $ 286

Required: Calculate Rocket's liquidity and efficiency ratios for 2020 and 2019. (Round the final answers to 2 decimal places. Use 365 days a year.)

Ratio 2020 2019
Current ratio :1 :1
Quick ratio :1 :1
Accounts receivable turnover times times
Days sales uncollected days days
Inventory turnover times times
Days sales in inventory days days
Total asset turnover times times
Accounts payable turnover times times

Analysis Component: Identify whether the change in each ratio from 2019 to 2020 was favourable or unfavourable.

Quick ratio, current ratio, account receiable turnover, day sale uncollected, inventory turn over, day sales in inventory, total assest turnover, account payable turn over

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