Exercise 13-17 Pharoah Company has been operating for several years, and on December 31, 2017, presented the following balance sheet. PHAROAH COMPANY BALANCE SHEET DECEMBER 31, 2017 Cash $39,300 Accounts payable $78,100 Receivables 79,300 Mortgage payable 143,200 Inventory 101,500 Common stock ($1 par) 146,500 Plant assets (net) 223,000 Retained earnings 75,300 $443,100 $443,100 The net income for 2017 was $26,600. Assume that total assets are the same in 2016 and 2017. Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (a) Current ratio (b) Acid-test ratio (c) Debt to assets ratio % (d) Return on assets %