Outdoor Waterworks Inc. Balance Sheet December 31, 2023 Assets 45 $ 23,200 25,680 53,080 Cash Current non-strategic investments Accounts receivable, net Notes receivable Inventory Prepaid expenses Plant and equipment, net 11,560 Skippe 60,540 5,960 331,520 Print Total assets $511,548 Liabilities and Equity Accounts payable. 5 49,240 Accrued wages payable. Income taxes payable 6,440 7,768 Long-term note payable, secured by mortgage on plant 117,000 Common shares, 160,000 shares 197,000 Retained earnings 134,600 Total liabilities and equity $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.) 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 45 points places.) Current ratio b. Quick ratio c. Days' sales uncollected to 1 days times d. Inventory turnover e. Days' sales in inventory days f. Ratio of pledged plant assets to secured liabilities to 1 times g. Times interest earned h. Profit margin times Total asset turnover J.Return on total assets kReturn on common shareholders' equity Analysis Component: Identify whether the ratios calculated above are favourable or unfavourable to the industry averages. Industry Average a Current ratio 16:1 1.11 b Quick ratio Days sales uncollected 21 days d Inventory turnover 5 times e. Days' sales in inventory 70 days tRatio of pledged plant assets to secured liabilities 1.4:1 g Times interest earned 50 times h Profit margin 14% 1. Total asset turnover 2.3 times Return on total assets 20% 32.7 % k Return on common shareholders equity