The 2023 financial statements of Outdoor Waterworks Inc. follow:

Outdoor Waterworks Inc.
Income Statement
For Year Ended December 31, 2023
Net sales	$	1,116,000
Cost of goods sold:
Inventory, Dec. 31, 2022	$	82,860
Purchases		615,840
Goods available for sale	$	698,700
Inventory, Dec. 31, 2023		61,290
Cost of goods sold		637,410
Gross profit from sales	$	478,590
Operating expenses		288,360
Operating profit	$	190,230
Interest expense		12,900
Profit before taxes	$	177,330
Income taxes		19,614
Profit	$	157,716

Outdoor Waterworks Inc.
Balance Sheet
December 31, 2023
Assets
Cash	$	23,700
Current non-strategic investments		26,280
Accounts receivable, net		53,580
Notes receivable		12,060
Inventory		61,290
Prepaid expenses		6,060
Plant and equipment, net		334,020
Total assets	$	516,990
Liabilities and Equity
Accounts payable	$	49,440
Accrued wages payable		6,540
Income taxes payable		7,410
Long-term note payable, secured by mortgage on plant		118,500
Common shares, 160,000 shares		199,500
Retained earnings		135,600
Total liabilities and equity	$	516,990

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 $440,220, common shares were $199,500, and retained earnings were $112,140. 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.