The 2020 financial statements of Outdoor Waterworks Inc. follow:

Outdoor Waterworks Inc.
Income Statement
For Year Ended December 31, 2020
Net sales	$	1,026,000
Cost of goods sold:
Inventory, Dec. 31, 2019	$	78,360
Purchases		606,840
Goods available for sale	$	685,200
Inventory, Dec. 31, 2020		59,940
Cost of goods sold		625,260
Gross profit from sales	$	400,740
Operating expenses		279,360
Operating profit	$	121,380
Interest expense		12,000
Profit before taxes	$	109,380
Income taxes		19,164
Profit	$	90,216

Outdoor Waterworks Inc.
Balance Sheet
December 31, 2020
Assets
Cash	$	22,800
Current non-strategic investments		25,200
Accounts receivable, net		52,680
Notes receivable		11,160
Inventory		59,940
Prepaid expenses		5,880
Plant and equipment, net		329,520
Total assets	$	507,180
Liabilities and Equity
Accounts payable	$	49,080
Accrued wages payable		6,360
Income taxes payable		7,140
Long-term note payable, secured by mortgage on plant		115,800
Common shares, 160,000 shares		195,000
Retained earnings		133,800
Total liabilities and equity	$	507,180

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 $435,720, common shares were $195,000, and retained earnings were $109,440.

Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round the answers to 2 decimal places.) to 1 to 1 a. Current ratio b. Quick ratio c. Days' sales uncollected d. Inventory turnover e. Days' sales in inventory f. Ratio of pledged plant assets to secured liabilities g. Times interest earned n. Profit margin i. Total asset turnover j. Return on total assets k. Return on common shareholders' equity days times days to 1 times % times % % Analysis Component: Identify whether the ratios calculated above are favourable or unfavourable to the industry averages. a. Current ratio b. Quick ratio c. 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 i. Total asset turnover j. Return on total assets k. Return on common shareholders' equity Industry Average 1.6:1 1.1:1 21 days 5 times 70 days 1.4:1 50 times 14 % 2.3 times 20 % 32.7%