The 2020 financial statements of Outdoor Waterworks Inc. follow:

Outdoor Waterworks Inc.
Income Statement
For Year Ended December 31, 2020
Net sales	$	986,000
Cost of goods sold:
Inventory, Dec. 31, 2019	$	76,360
Purchases		602,840
Goods available for sale	$	679,200
Inventory, Dec. 31, 2020		59,340
Cost of goods sold		619,860
Gross profit from sales	$	366,140
Operating expenses		275,360
Operating profit	$	90,780
Interest expense		11,600
Profit before taxes	$	79,180
Income taxes		18,964
Profit	$	60,216

Outdoor Waterworks Inc.
Balance Sheet
December 31, 2020
Assets
Cash	$	22,400
Current non-strategic investments		24,720
Accounts receivable, net		52,280
Notes receivable		10,760
Inventory		59,340
Prepaid expenses		5,800
Plant and equipment, net		327,520
Total assets	$	502,820
Liabilities and Equity
Accounts payable	$	48,920
Accrued wages payable		6,280
Income taxes payable		7,020
Long-term note payable, secured by mortgage on plant		114,600
Common shares, 160,000 shares		193,000
Retained earnings		133,000
Total liabilities and equity	$	502,820

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 $433,720, common shares were $193,000, and retained earnings were $108,240. 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.