$\backslash$table$[[\backslash$table$[[$FocusM$\backslash$eta lsInc.$],[$ComparativeBalanceSheetInformation$],[$November$30],[($millionsof$$)]]],[,2023,2022],[$Cash$,22,92],[$Accounts receivable $($net$),410,256],[$Inventory$,72,65],[$Plant and equipment $($net$),2,666,2,750],[$Accounts payable,$292,208],[$Long$-$term notes payable$*,1,760,2,320],[$Common shares,$360,360],[$Retained earnings,$758,275]]$ 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.

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

$\backslash$table$[[\backslash$table$[[$Focus Metals Inc.$],[$Income Statement$],[$For Year Ended November $30],[($millions of $ $)]]],[,2023,2022],[$Net sales,$$2,760,$$$1,962],[$Cost of goods sold,$962,752],[$Gross profit,$$1,798,$$$1,210],[$Operating expenses:$],[$Depreciation expense,$100,100],[$Other expenses,$740,607],[$Total operating expenses,$840,707],[$Profit from operations,$958,503],[$Interest expense,$140,174],[$Income tax expense,$50,54],[$Profit$,768,275]]$