at The 2023 financial statements of Outdoor Waterworks Inc. follow. Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2023 Net sales Cost of goods sold: Inventory, Dec. 31, 2022 Purchases Goods available for sale Inventory, Dec. 31, 2023 Cost of goods sold Gross profit from sales Operating expenses Operating profit Interest expense Profit before taxes Income taxes Profit 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 Outdoor Waterworks Inc. Balance Sheet December 31, 2023 $1,126,000 $ 83,360 616,840 $ 708,200 61,440 a. Current ratio b. Quick ratio 638,768 $ 487,240 289,360 $ 197,880 13,000 $ 184,888 19,664 $ 165, 216 Long-term note payable, secured by mortgage an plant Common shares, 160,000 shares Retained earnings Total liabilities and equity Days' sales uncollected $ 23,800 26,400 53,688 12,160 61,440 6,080 334,520 $518,080 $ 49,480 6,560 7,448 Assume all sales were on credit. Also assume the long-term note payable is due in 2026, with no current portion. On the December 31, 2022, balance sheet, the assets totalled $440,720, common shares were $200,000, and retained earnings were $112,440. 118,800

200,000 135,800 $518,080 Required: Calculate the following: (Use 365 days in a year. Do not round your Intermediate calculations. Round the answers to 2 decimal places.) to 1 to 1

answer on table

The 2023 financlal statements of Outdoor Waterworks Inc. follow. Assume all sales were on credit. Also assume the long-term note payable is due in 2026, with no curr 2022 , balance sheet, the assets totalled $440,720, common shares were $200,000, and retained ear Required: Calculate the following: (Use 365 days in a year. Do not round your Intermeclate calculations. Roun places.) Assume all sales were on credit: Also assume the long-term note payable is due in 2026. with no current portion. On the December 31. 2022. balance sheet, the assets totalled $440,720, common shares were $200.000, and retained earnings were $112,440. Required: Calculate the following: (Use 365 days in a year. Do not round your intermedlate calculations. Round the answers to 2 decimal places.) Anelysis Component: Identify whether the ratios calculated above are favourable or unfavourable to the industry averages