Condensed financial data of Pharoah Company follow. Pharoah Company Comparative Balance Sheets December 31 Assets 2020 Cash $109,700 Accounts receivable 92,200 Inventory 113,000 Prepaid expenses 29.900 Investments 139,800 Equipment 265,400 Accumulated depreciation equipment (47,200) Total $702,800 2019 $47,900 32,700 101,200 25.900 113,500 242,200 (53,000) $510,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,800 16.100 118.700 219,400 236,800 $702,800 $67.300 17.100 149,600 174,500 101.900 $510,400 Pharoah Company Question 1 of 4 View Policies Current Attempt in Progress Managerial accounting information O is prepared only once a year. O pertains to subunits of the entity and may be very detailed. O pertains to the entity as a whole and is highly aggregated. O is constrained by the requirements of generally accepted accounting pr e Textbook and Media Save for Later