PHAROAH COMPANY Balance Sheets
December 31
2022
2021
Cash
$ 17,205
$ 34,410
Accounts receivable (net)
80,290
68,820
Inventory
68,820
57,350
Plant assets (net)
229,400
206,460
$395,715
$367,040
Accounts payable
$ 57,350
$ 68,820
Mortgage payable (15%)
114,700
114,700
Common stock, $10 par
160,580
137,640
Retained earnings
63,085
45,880
$395,715
$367,040

Additional 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.)