The 2023 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Balance Sheet December 31, 2623 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 22,30024,60052,18010,66059,1905,780327,020$501,730 Long-term note payable, secured by mortgage on plant $48,880 6,260 6,990 Common shares, 160,000 shares Retained earnings Total liabilities and equity 114,300 192,500 132,806$591,730 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 $433,220, common shares were $192,500, and retained earnings were $107,940. 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