The 2023 financial statements of Outdoor Waterworks Inc. follow:

Outdoor Waterworks Inc.
Income Statement
For Year Ended December 31, 2023
Net sales	$	1,086,000
Cost of goods sold:
Inventory, Dec. 31, 2022	$	81,360
Purchases		612,840
Goods available for sale	$	694,200
Inventory, Dec. 31, 2023		60,840
Cost of goods sold		633,360
Gross profit from sales	$	452,640
Operating expenses		285,360
Operating profit	$	167,280
Interest expense		12,600
Profit before taxes	$	154,680
Income taxes		19,464
Profit	$	135,216

Outdoor Waterworks Inc.
Balance Sheet
December 31, 2023
Assets
Cash	$	23,400
Current non-strategic investments		25,920
Accounts receivable, net		53,280
Notes receivable		11,760
Inventory		60,840
Prepaid expenses		6,000
Plant and equipment, net		332,520
Total assets	$	513,720
Liabilities and Equity
Accounts payable	$	49,320
Accrued wages payable		6,480
Income taxes payable		7,320
Long-term note payable, secured by mortgage on plant		117,600
Common shares, 160,000 shares		198,000
Retained earnings		135,000
Total liabilities and equity	$	513,720

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 $438,720, common shares were $198,000, and retained earnings were $111,240. 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.