Award: 30.00 points The 2020 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2020 Net sales Cost of goods sold: Inventory, Dec. 31, 2019 Purchases Goods available for sale Inventory, Dec. 31, 2020 Cost of goods sold Gross profit from sales Operating expenses Operating profit Interest expense Profit before taxes Income taxes Profit Assets Cash Outdoor Waterworks Inc. Balance Sheet December 31, 2020 Current non-strategic investments Accounts receivable, net Notes receivable Inventory Prepaid expenses Plant and equipment, net Total assets $1,106,000 $ 82,360 614,840 $ 697,200 61,140 636,060 $ 469,940 287,360 $ 182,580 12,800 $ 169,780 19,564 $ 150,216 $ 23,600 26,160 53,480 11,960 61,140 6,040 333,520 $515,900 Accounts payable $ 49,400 Accrued wages payable 6,520 Income taxes payable 7,380 Long-term note payable, secured by mortgage on plant 118,200 Common shares, 160,000 shares 199,000 Retained earnings 135,400 Total liabilities and equity $515,900 Liabilities and Equity 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 $439,720, common shares were $199,000, and retained earnings were $111,840. Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round the answers to 2 decimal places.) a. Current ratio b. Quick ratio c. Days' sales uncollected d. Inventory turnover 1.60 to 1 1.10 to 1 21.00 days 5.00 times e. Days' sales in inventory f. Ratio of pledged plant assets to secured liabilities g. Times interest earned 70.00 days 1.40 to 1 50.00 times h. Profit margin 14.00 % i. Total asset turnover j. Return on total assets 2.30 times 20.00 % k. Return on common shareholders' equity 32.70 %