PHAROAHCOMPANY Balance Sheets December 31 \begin{tabular}{|lrr|} \hline Assets & 2022 & 2021 \\ \hline Cash & $70,840 & $68,860 \end{tabular} Debt investments (short-term) 55,00042,000 Accounts receivable 109,00090,000 Inventory 237,000166,000 Prepaid expenses Land Building and equipment (net) Total assets $892,840$707,860 Liabilities and Stockholders' Equity Notes payable $178,704$110,000 Accounts payable 65,00050,000 Liabilities and Stockholders' Equity NotespayableAccountspayableAccruedliabilitiesBondspayable,due2025Commonstock,$10parRetainedearningsTotalliabilitiesandstockholdersequity$178,70465,00042,000250,000202,000155,136$892,840$110,00050,00042,000170,000202,000133,860$707,860 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. LIQUIDITY Current ratio :1 i Accounts receivables turnover times times Inventory turnover times times 20222021 \%Change PROFITABILITY Profit margin Asset turnover times times Return on assets % % Earnings per share