MUMMULUI 15 IUI Pildioan Company. . PHAROAH COMPANY Balance Sheets December 31 Assets 2022 Cash $ 71,000 Debt investments (short-term) 55,000 Accounts receivable 109,000 Inventory 237,000 Prepaid expenses 23,000 Land 135,000 Building and equipment (net) 263,000 Total assets $893,000 Liabilities and Stockholders' Equity Notes payable $171,000 Accounts payable 65,000 Accrued liabilities 42,000 Bonds payable, due 2025 250,000 Common stock, $10 par 202,000 Retained earnings 163,000 Total liabilities and stockholders' equity $893,000 2021 $ 68,000 42,000 90,000 166,000 23,000 135,000 183,000 $707,000 $110,000 50,000 42,000 170,000 202,000 133,000 $707,000 PHAROAH COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue $890,000 $789,000 Cost of goods sold 647,000 574,000 Gross profit 243,000 215,000 Operating expenses 192,000 165,000 Net income $ 51,000 $50,000 Additional in Additional information: 1. Inventory at the beginning of 2021 was $116,000. 2. Accounts receivable (net) at the beginning of 2021 were $88,000. 3. Total assets at the beginning of 2021 were $642,000. 4. No common stock transactions occurred during 2021 or 2022. 5. All sales were on account. (al) Compute the liquidity and profitability ratios of Pharoah Company for 2021 and 2022. (Round Curent ratic Round % change to o decimal places, for e.g. 1% and if % change is a decrease show the number: 2021 2022 % Change LIQUIDITY Current ratio Accounts receivables turnover times times Inventory turnover times times 2022 % Change PROFITABILITY Profit margin Asset turnover times times Return on assets Earnings per shares (b) repes, and the answers to decide d tha t on Dec . 1071, 71.000. De to assets 2. All of the not pay were 3. The market price of common stock was th e remained at the December 31, 2022 and 513 on December 2002 and 2023, respectively Forum on co c