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PHAROAH COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales $1,697,400 $1,575,000 Cost of goods sold 947,000 905,400 Gross profit 750,400

PHAROAH COMPANY Income Statements For the Years Ended December 31

2022

2021

Net sales

$1,697,400

$1,575,000

Cost of goods sold

947,000

905,400

Gross profit

750,400

669,600

Selling and administrative expenses

450,000

431,100

Income from operations

300,400

238,500

Other expenses and losses

Interest expense

19,800

18,000

Income before income taxes

280,600

220,500

Income tax expense

84,180

66,150

Net income

$ 196,420

$ 154,350

PHAROAH COMPANY Balance Sheets December 31

Assets

2022

2021

Current assets

Cash

$ 54,090

$ 57,780

Debt investments (short-term)

66,600

45,000

Accounts receivable

106,020

92,520

Inventory

113,400

103,950

Total current assets

340,110

299,250

Plant assets (net)

584,100

468,270

Total assets

$924,210

$767,520

Liabilities and Stockholders Equity

Current liabilities

Accounts payable

$ 144,000

$130,860

Income taxes payable

39,150

37,800

Total current liabilities

183,150

168,660

Bonds payable

198,000

180,000

Total liabilities

381,150

348,660

Stockholders equity

Common stock ($4 par)

261,000

270,000

Retained earnings

282,060

148,860

Total stockholders equity

543,060

418,860

Total liabilities and stockholders equity

$924,210

$767,520

All sales were on account. Net cash provided by operating activities for 2022 was $198,000. Capital expenditures were $122,400, and cash dividends were $63,220. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)

(a) Earnings per share

$enter earnings per share in dollars

(b) Return on common stockholders equity

enter return on common stockholders equity in percentages

%
(c) Return on assets

enter return on assets in percentages

%
(d) Current ratio

enter current ratio

:1
(e) Accounts receivable turnover

enter accounts receivable turnover in times

times
(f) Average collection period

enter average collection period in days

days
(g) Inventory turnover

enter inventory turnover in times

times
(h) Days in inventory

enter days in inventory

days
(i) Times interest earned

enter times interest earned

times
(j) Asset turnover

enter asset turnover in times

times
(k) Debt to assets ratio

enter debt to assets ratio in percentages

%
(l) Free cash flow

$enter free cash flow in dollars

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