Questions by okey43 - Page 10
Pharoah Company has these comparative balance sheet data:PHAROAH COMPANYBalance SheetsDecember 3120222021Cash$ 17,205$ 34,410Accounts receivable (net)80,29068,820Inventory68,82057,350Plant assets (net)229,400206,460$395,715$367,040Accounts payable$ 57,350$ 68,820Mortgage payable (15%)114,700114,700Common stock, $10 par160,580137,640Retained earnings63,08545,880$395,715$367,040Additional information for 2022:1. Net income was $31,100. 2. Sales on account were $387,800. Sales returns and allowances amounted to $27,500. 3. Cost of goods sold was $225,600. 4. Net cash provided by operating activities was $59,300. 5. Capital expenditures were $26,400, and cash dividends were $21,700. Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal places, e. G. 1. 83 and all other answers to 1 decimal place, e. G. 1. 8. Use 365 days for calculation. )