Current Attempt in Progress Pharoah Company has these comparative balance sheet data: PHAROAH COMPANY Balance Sheets December 31 2022 Cash $ 16,050 Accounts receivable (net) 74,900 Inventory 64,200 Plant assets (net) 214,000 $369,150 Accounts payable $53,500 Mortgage payable (15%) 107,000 Common stock, $10 par 149,800 Retained earnings 58,850 $369,150 2021 $ 32,100 64,200 53,500 192,600 $342,400 $ 64,200 107,000 128,400 42,800 $342,400 Additional information for 2022: 1. 2. 3. Net income was $31,100. Sales on account were $387,800. Sales returns and allowances amounted to $27,500. Cost of goods sold was $225,600. Net cash provided by operating activities was $59,300. Capital expenditures were $26,400, and cash dividends were $21,700. 4. 5. (a) Current ratio. :1 (b) Accounts receivable turnover. times (c) Average collection period. days (d) Inventory turnover. times (e) Days in inventory days (f) Free cash flow. $