The 2023 financial statements of Outdoor Waterworks Inc. follow:

Outdoor Waterworks Inc.
Income Statement
For Year Ended December 31, 2023
Net sales	$	1,136,000
Cost of goods sold:
Inventory, Dec. 31, 2022	$	83,860
Purchases		617,840
Goods available for sale	$	701,700
Inventory, Dec. 31, 2023		61,590
Cost of goods sold		640,110
Gross profit from sales	$	495,890
Operating expenses		290,360
Operating profit	$	205,530
Interest expense		13,100
Profit before taxes	$	192,430
Income taxes		19,714
Profit	$	172,716

Outdoor Waterworks Inc.
Balance Sheet
December 31, 2023
Assets
Cash	$	23,900
Current non-strategic investments		26,520
Accounts receivable, net		53,780
Notes receivable		12,260
Inventory		61,590
Prepaid expenses		6,100
Plant and equipment, net		335,020
Total assets	$	519,170
Liabilities and Equity
Accounts payable	$	49,520
Accrued wages payable		6,580
Income taxes payable		7,470
Long-term note payable, secured by mortgage on plant		119,100
Common shares, 160,000 shares		200,500
Retained earnings		136,000
Total liabilities and equity	$	519,170

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 $441,220, common shares were $200,500, and retained earnings were $112,740. 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.