1 #6-Chapter 17-due 04062022@11:... eck my work mode : This shows what is correct or incorrect Income Statement For Year Ended December 31, 2020 Net sales $1,136,000 Cost of goods sold: Inventory, Dec. 31, 2019 $ 83,860 Purchases 617,840 Goods available for sale $ 701, 700 Inventory, Dec. 31, 2020 61,590 Cost of goods sold 640, 110 Gross profit from sales $ 495,890 Operating expenses 290, 360 Operating profit $ 205,530 13,100 Profit before taxes $ 192,430 Income taxes 19,714 Profit $ 172,716 Interest expense Outdoor Waterworks Inc. Balance Sheet December 31, 2020 Assets Cash Current non-strategic investments $ 23,900 26,520 Bra Outdoor Waterworks Inc. Balance Sheet December 31, 2020 Assets Cash Current non-strategic investments Accounts receivable, net Notes receivable Inventory Prepaid expenses Plant and equipment, net Total assets Liabilities and Equity Accounts payable Accrued wages payable Income taxes payable Long-term note payable, secured by mortgage on plant Common shares, 160,000 shares Retained earnings Total liabilities and equity $ 23,900 26,520 53, 780 12,260 61,590 6,100 335, 020 $519, 170 $ 49,520 6,580 7,470 119, 100 200,500 136,000 $519,170 Help Save & Exit Submit k my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Assume all sales were on credit. Also assume the long-term note payable is due in 2023, with no current portion on the December 31 2019, balance sheet, the assets totalled $441,220. common shares were $200,500 and retained earnings were 5112740 Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round the answers to 2 decimal places.) Answer is not complete. a b. Current ratio Quick ratio Days' sales uncollected Inventory turnover Days' sales in inventory Ratio of pledged plant assets to secured liabilities Times interest earned 2.83 tot to 1 days times days d D e. to 1 f times g Next > Answer is not complete. a. 2.83 X to 1 b. to 1 C. d. days times days e. f. Current ratio Quick ratio Days' sales uncollected Inventory tumover Days' sales in inventory Ratio of pledged plant assets to secured liabilities Times interest earned Profit margin Total asset turnover Return on total assets Return on common shareholders' equity to 1 g times h. i. times % j k. 26.19 %