The 2023 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2023 Net sales Cost of goods sold: Inventory, Dec. 31, 2022 $1,056,000 79,860 609,840 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 689,700 60,390 629, 310 426,690 282, 360 144, 330 12,300 132,030 19, 314 112,716 Assets Cash Outdoor Waterworks Inc. Balance Sheet December 31, 2023 Current non-strategic investments $ 23,100 25,560 Assets Outdoor Waterworks Inc. Balance Sheet December 31, 2023 Cash $ 23,100 Current non-strategic investments Accounts receivable, net Notes receivable Inventory Prepaid expenses Plant and equipment, net Total assets 25,560 52,980 11,460 60,390 5,940 331,020 $510,450 Liabilities and Equity Accounts payable $ 49,200 Accrued wages payable 6,420 Income taxes payable 7,230 Long-term note payable, secured by mortgage on plant 116,700 Common shares, 160,000 shares 196,500 Retained earnings 134,400 Total liabilities and equity $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.) a. Current ratio b. Quick ratio c. Days' sales uncollected d. Inventory turnover e Days' sales in inventory + to 1 to 1 days times f. Ratio of pledged plant assets to secured liabilities g. Times interest earned days to 1 times h. Profit margin i. Total asset turnover Return on total assets k. Return on common shareholders' equity % times % % Analysis Component: Identify whether the ratios calculated above are favourable or unfavourable to the industry averages. Industry Average a. Current ratio + 1.6:1 b. Quick ratio 1.1.1 c. Days' sales uncollected d. Inventory turnover e. Days' sales in inventory 21 days 5 times 70 days f. Ratio of pledged plant assets to secured liabilities 14:1 g. Times interest earned h. Profit margin iTotal asset turnover j. Return on total assets k. Return on common shareholders' equity 50 times 14 % 2.3 times 20 % 32.7%