Question 14 Pharoah Automotive’s balance sheet at the end of its most recent fiscal year shows t

Question 14 Pharoah Automotive's balance sheet at the end of its most recent fiscal year shows the following information: Pharoah Automotive Balance Sheet as of March 31, 2017 Liabilities and Equity: Assets: Cash and marketable sec. Accounts payable and accruals $27,000 $173,000 Notes payable 28,000 Accounts receivable 168,000 213,000 Inventory Total current assets $408,000 Total current liabilities $201,000 Long-term debt 175,000 Total liabilities $376,000 Net plant and equipment Common stock 710,000 317,000 Retained earnings Goodwill and other assets 90,000 515,000 $1,208,000 Total liabilities and equity $1,208,000 Total assets In addition, it was reported that the firm had a net income of $164,000 on net sales of $4,200,000. Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) What are the firm's current ratio and quick ratio? (Round answers to 2 decimal places, e.g.15.25.) Current Ratio times In addition, it was reported that the firm had a net income of $164,000 on net sales of $4,200,000. Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) What are the firm's current ratio and quick ratio? (Round answers to 2 decimal places, e.g.15.25.) Current Ratio times Quick Ratio times Calculate the firm's days' sales outstanding, total asset turnover ratio, and fixed asset turnover ratio. (Round answers to 2 decimal places, e.g.15.25. Use 365 days for calculation.) Days Sales Outstanding days Total Asset Turnover times Fixed Asset Turnover times Open Show Work Click if you would like to Show Work for this question:

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