The 2023 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2023 Net sales $1,056,000 Cost of goods sold: Bed Inventory, Dec. 31, 2022 Purchases Goods available for sale Inventory, Dec. 31, 2023 Cost of goods sold Gross profit from sales Operating expenses Operating profit Interest expense Profit before taxes Income taxes Profit 79,860 609,840 $ 689,700 60,390 629,310 $ 426,690 282,360 $ 144,330 12,300 $ 132,030 19,314 $ 112,716 Assets Outdoor Waterworks Inc. Balance Sheet December 31, 2023 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 Long-term note payable, secured by mortgage on plant Common shares, 160,000 shares Retained earnings Total liabilities and equity $ 23,100 25,560 52,980 11,460 60,390 5,940 331,020 $510,450 $ 49,200 6,420 7,230 116,700 196,500 134,400 $510,450 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 $437,220, common shares were $196,500, and retained earnings were $110,340. Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round the answers to 2 decimal places.) Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round th places.) a. Current ratio 2.85 to 1 b. Quick ratio 1.80 to 1 C. Days' sales uncollected 18.31 days d. Inventory turnover 8.97 times e. Days' sales in inventory 9.60 days f. Ratio of pledged plant assets to secured 2.84 to 1 liabilities g. Times interest earned 11.73 times h. Profit margin 10.67 % i. Total asset turnover 0.55 times j. Return on total assets 23.78% k. Return on common shareholders' equity 48.77% 13