Question: Required Refer to Exhibit 18.14 and calculate Focus Metals solvency ratios for 2013 and 2014 (round answers to two decimal places). Analysis Component: Identify whether

Required
Refer to Exhibit 18.14 and calculate Focus Metals€™ solvency ratios for 2013 and 2014 (round answers to two decimal places).
Analysis Component: Identify whether the change in each ratio from 2013 to 2014 was favourable (F) or unfavorable (U) andwhy.

Focus Metals Inc Focus Metals Inc. Income Statement For Year Ended November 30, 2014 (millions of $) Comparative Balance Sheet Information November 30 (millions of $) 2014 2013 2014 2013 84 Net sales 882 672 378 56 2,506 2,590 Operating expenses: 168 Long-term notes payable1,680 2,240 280 259 S 84 700 784 $84 567 651 252 280 Total operating expenses Retained earnings 742 134 46 100 "90% of the plant and equipment are secured by long-term notes payable

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