hike away sells outdoor sporting equipment you have been working for the company since it's Inception a few years ago and have been promoted to be there accounting manager they use the Perpetual inventory system and use the weighted average method to determine value for the inventorythe opening balances as at September $30$th $2023$ are assets cash $$9,480$ accounts receivable $16,000$ merchandise inventory $15,000$ equipment $160,000$ accumulated depreciation negative $18,000.$liabilities are accounts payable $$10,500$ bank loan is $$18,000$common shares is $50,000$ retained earnings is $$103980$the inventory figure includes $300$ units purchased at $$50$ each. number one record transactions and the general journal number two post General entries to the ledger accounts number three using the general entries from part one complete the inventory valuation page number four complete the bank reconciliation and related journal entries number five prepare the income statement statement of retained earnings and balance sheet number six calculate ratios and answer related questions$0$number one calculate the current ratio as at October $312023$ number $2$ does hike away have a good or bad current ratio explain why or why not number three calculate the inventory days on hand ratio as October $312023$ since this was for the month do not multiply by $365$ and the formula instead multiply by $31$ days number four last month the inventory days on hand ratio was $50\mathrm{.}62$ days has the ratio improved ordeteriorate$0$why or why not number five calculate the gross profit margin as at October $312023$ number $6$ last month the gross profit margin was $43\%,$ what could have caused this decrease in gross margin number $7$ calculate the inventory turnover as at October $312023$number $8$ if inventory turn over last month was Zerois the company holding on to inventory for longer or shorter period of time