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The 2023 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Balance Sheet December 31,2023 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 7,260 Long-term note payable, secured by mortgage on plant Common shares, 160,000 shares Retained earnings Total liabilities and equity 117,000197,000134,600$511,540 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 $437,720, common shares were $197,000, and retained earnings were $110,640. Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round the answers to 2 decimal places.) Analysis Component: Identify whether the ratios calculated above are favourable or unfavourable to the industry averages