80.2K

Verified Solution

Link Copied!

PHAROAH COMPANY Income Statements For the Years Ended December 31 2022 2021 $2,104,400 $1,960,000 Net sales 1,167,000 1,146,840 Cost of goods sold 937,400 813,160 Gross profit 546,060 570,000 Selling and administrative expenses Income from operations 367,400 267,100 Other expenses and losses 25,080 22,800 Interest expense Income before income taxes 342,320 244,300 102,696 73,290 Income tax expense $ 239,624 $ 171,010 Net income PHAROAH COMPANY Balance Sheets December 31 2022 2021 Assets Current assets $ 68,514 $ 73,188 Cash Debt investments (short-term) 84,360 57,000 134,292 117,192 Accounts receivable 143,640 131,670 Inventory 379,050 Total current assets 430,806 739,860 593,142 Plant assets (net) $1,170,666 $972,192 Total assets Liabilities and Stockholders' Equity Current liabilities $ 182,400 $165,756 Accounts payable 49,590 47,880 Income taxes payable Total current liabilities 231,990 213,636 228,000 250,800 Bonds payable 441,636 482,790 Total liabilities Stockholders' equity 330,600 342,000 Common stock ($5 par) 357,276 188,556 Retained earnings 530,556 Total stockholders' equity 687,876 $1,170,666 $972,192 Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2022 was $250,800. Capital expenditures were $155,040, and cash dividends were $70,904. All sales were on account. Net cash provided by operating activities for 2022 was $250,800. Capital expenditures were $155,040, and cash dividends were $70,904. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.) (a) Earnings per share $4 (b) Return on common stockholders' eguity (c) Return on assets (d) Current ratio :1 (e) Accounts receivable turnover times (f) Average collection period days (g) Inventory turnover times (h) Days in inventory days (i) Times interest earned times (j) Asset turnover times (k) Debt to assets ratio (1) Free cash flow Click if v ou would like to Show Work for this question: Onen Show Work

Answer & Explanation Solved by verified expert

See Answer