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The 2020 financial statements of Outdoor Waterworks Inc. follow: ints eBook eferences Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2020 Net sales $976,000 Cost of goods sold: Inventory, Dec. 31, 2019 $ 75,860 Purchases 601,840 Goods available for sale $677, 700 Inventory, Dec. 31, 2020 59,190 Cost of goods sold 618,510 Gross profit from sales $357, 490 Operating expenses 274,360 Operating profit $ 83,130 Interest expense 11,500 Profit before taxes $ 71,630 Income taxes 18,914 Profit $ 52,716 Outdoor Waterworks Inc. Balance Sheet December 31, 2020 Assets Cash Current non-strategic investments Accounts receivable, net Notes receivable $ 22,300 24,600 52,180 10,660 59 190 59,190 5,780 327,020 $501,730 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 $ 48,880 6,260 6,990 114,300 192,500 132, 800 $501,730 Assume all sales were on credit. Also assume the long-term note payable is due in 2023, with no cur 2019, balance sheet, the assets totalled $433,220, common shares were $192,500, and retained ear Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Rou places.) to 1 a. Current ratio b. Quick ratio c. Days' sales uncollected to 1 days Check my work Vouw 59,190 5, 780 327,020 $501,730 $ 48,880 6,260 6,990 114,300 192,500 132,800 $501,730 long-term note payable is due in 2023, with no current portion. On the December 31, common shares were $192,500, and retained earnings were $107,940. Do not round your intermediate calculations. Round the answers to 2 decimal to 1 to 1 days Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calcul places.) c. a. Current ratio b. Quick ratio Days' sales uncollected d. Inventory turnover e. Days' sales in inventory f. Ratio of pledged plant assets to secured liabilities g. Times interest earned h. Profit margin Total asset turnover Return on total assets k. Return on common shareholders' equity to 1 to 1 days times days to 1 times times