Balance Sheets December 31 2022 2021 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 490 420 Inventory 580 510 Prepaid expenses 120 160 Total current assets 1,520 1,450 Investments 30 30 Property, plant, and equipment (net) 420 380 Intangibles and other assets 530 510 Total assets $2,500 $2,370 Current liabilities $920 $810 Long-term liabilities 530 500 Stockholders' equity-common 1,050 1,060 Total liabilities and stockholders' equity $2,500 $2,370 PHAROAH COMPANY Income Statements For the Year Ended December 31 2022 2021 Sales revenue $3,920 $3,580 Costs and expenses Cost of goods sold 975 910 Selling & administrative expenses 2,400 2,330 interest expense 25 20 Total costs and expenses 3,400 3,260 Income before income taxes 520 320 Income tax expense 156 96 Net income $364 $ 224 Compute the following ratios for 2022 and 2021. (Round current ratio and inventory turnover to 2 decimal places, eg. 1.83 and all other answers to 1 decimal place, eg. 1.8 or 12.6%) (a) Current ratio. (b) Inventory turnover (Inventory on 12/31/20, was $440.) (c) Profit margin (d) Return on assets. (Assets on 12/31/20, were $2,870.) Return on common stockholders' equity. (Stockholdersequity on 12/31/20, was $920.) (e) (1) Debt to assets ratio. (e) Times interest earned. 2022 2021 Current ratio. :1 :1 Inventory turnover Profit margin. % % % % Return on assets. 96 Return on common stockholders' equity. %6 Debt to assets ratio. % 22 Times interest earned times times