Refer the following table. Cash Accounts receivable (net) Inventory Prepaid rent Plant and equipment (net) Accounts...

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Refer the following table. Cash Accounts receivable (net) Inventory Prepaid rent Plant and equipment (net) Accounts payable Accrued liabilities Income tax payable Preferred shares Common shares Retained earnings Net sales Cost of goods sold. Gross profit Operating expenses: Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 $ 16 52 232 40 788 57 124 9 124 244 558 $ 65 114 196 76 760 100 88 21 124 244 602 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2020 $1,280 476 $ 804 $ 56 488 544 260 25 32 203 Depreciation expense Other expenses Total operating expenses Profit from operations Interest expense Income tax expense Profit $ 2019 $1,064 404 $ 660 $ 56 332 388 $ 272 15 34 $ 223 2018 $28 40 192 28 820 47 81 16 124 244 600 Required: Calculate Airspace'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 Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover :1 1 times days times days times times 1 1 times days times days times times Refer the following table. Cash Accounts receivable (net) Inventory Prepaid rent Plant and equipment (net) Accounts payable Accrued liabilities Income tax payable Preferred shares Common shares Retained earnings Net sales Cost of goods sold. Gross profit Operating expenses: Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 $ 16 52 232 40 788 57 124 9 124 244 558 $ 65 114 196 76 760 100 88 21 124 244 602 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2020 $1,280 476 $ 804 $ 56 488 544 260 25 32 203 Depreciation expense Other expenses Total operating expenses Profit from operations Interest expense Income tax expense Profit $ 2019 $1,064 404 $ 660 $ 56 332 388 $ 272 15 34 $ 223 2018 $28 40 192 28 820 47 81 16 124 244 600 Required: Calculate Airspace'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 Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover :1 1 times days times days times times 1 1 times days times days times times

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Q Calculate Airspaces liquidity and efficiency ratios for 2020 and 2019 Solution Airspace Technologies Inc Liquidity and Efficiency Ratios for 2020 an... View the full answer