6 13 Testbank Exercise 91 Your answer is partially correct. Try again 62 The following information pertains to Pharoah Company: 22 24 Cash Accounts receivable Inventory Plant assets (net) Total assets $21,500 126,000 75,000 383,000 $605,500 28 le 1-01 Accounts payable Accrued taxes and expenses payable Long-term debt Common stock ($10 par) Pald-in capital in excess of par Retained earnings Total equities an 31 $75,000 25,000 48,500 155,000 90,000 212,000 $605,500 ond on 49 22-04 22-02 - 24-05 22 Net sales (all on credit) Cost of goods sold Net income $801,500 604,500 81,000 Compute the following: (Round answers to 2 decimal places eg. 15.25.) (a) Current ratio 2.22] :: (b) Tnventory turnover 806 times ts by Accounts receivable turnover 6 times MacBook Air 20 CE $ % 5 2 3 6 7 W E R T T Y U I S D F H G J