Question: CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NE Pharoah Company provides you with the following balance sheet information as of December 31, 2019 Current assets

 CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NE Pharoah Company provides
you with the following balance sheet information as of December 31, 2019

CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NE Pharoah Company provides you with the following balance sheet information as of December 31, 2019 Current assets $11,100 Current liabilities $13,150 Long-term assets 26,500 Long-term liabilities 11,300 Stockholders' equity 13,150 Total assets $37,600 Total liabilities and stockholders' equity $37,600 In addition, Pharoah reported net income for 2019 of $15,750, income tax expense of $3,200, and interest expense of $1,500. (Round ratios to 2 decimal places, e.g. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) (a) Compute the current ratio and working capital for Pharoah for 2019. Current ratio :1 Working capital (b) Assume that at the end of 2019, Pharoah used $3,000 cash to pay off $3,000 of accounts payable. How would the current ratio and working capital have changed av Current ratio Working capital Compute the debt to assets ratio and the times interest earned ratio for Pharoah for 2019. Debt to assets ratio :1 Times interest earned ratio

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!