In 2022, Pharoah Corporation had net sale of $595,000 and cost of goods sold of $358,000. Operating expenses were $152,000, and interest expense was $6,000. The corporation's tax rate is 20%. The corporation declared preferred dividends of $12,000 in 2022, and its average common stockholders' equity during the year was $189,000. (a) Prepare an income statement for Pharoah Corporation. PHAROAH CORPORATION

In 2022, Pharoah Corporation had net salc of $595,000 and cost of goods sold of $358,000. Operating expenses were $152,000, and interest expense was $6,000. The corporation's tax rate is 20%. The corporation declared preferred dividends of $12.000 in 2022 , and its average common stockholders' equity during the year was $189,000. (a) Prepare an income statement for Pharoah Corporation Compute Pharoah Corporation's return on common stockholders' equity for 2022. (Round answer to 1 decimal place, eg. 10.5\%) Return on common stockholders' equity % eTextbook and Media Attempts: 0 of 5 used