The 2023 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Balance Sheet December 31, 2023 Assets Cash Current non-strategic investments $23,000 Accounts receivable, net 25,440 Notes receivable 52,880 Inventory 11,360 Prepaid expenses 60,240 Plant and equipment, net 5,920 Total assets $509,360330,520 Liabilities and Equity Accounts payable Accrued wages payable $49,160 Income taxes payable 6,400 Long-term note payable, secured by mortgage on 7,200 plant Common shares, 160,000 shares Retained earnings Total liabilities and equity 116,400 196,000 $509,360134,200 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 $436,720, common shares were $196,000, and retained earnings were $110,040. 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