Business, 27.06.2020 23:01 cutiecat66

Pharoah Company has these comparative balance sheet data: PHAROAH COMPANY
Balance Sheets
December 31
2020 2019
Cash $20,595 96,110
Accounts receivable (net) 82,380 274,600
Inventory $473,685 68,650
Plant assets (net) 137,300 192,220
75,515 $473,685
Accounts payable (15%) $41,190 82,380
Mortgage payable 68,650 247,140
Common stock) , $10par $439,360 $82,380
Retained earnings 137,300 164,760
54,920 $439,360
Additional information for 2020:
1. Net income was $29,500.
2. Sales on account were $392,000. Sales returns and allowances amounted to $29,300.
3. Cost of goods sold was $201,900.
4. Net cash provided by operating activities was $56,200.
5. Capital expenditures were $30,000, and cash dividends were $15,100.
Compute the following ratios at December 31, 2020

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Pharoah Company has these comparative balance sheet data: PHAROAH COMPANY
Balance Sheets

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