Ratios and Foreign Companies Prince Albert Canning PLC had a net loss off 18,465 on sales off 151,387 (both in thousands of pounds). What was the company's profit margin? Does the fact that these figures arc quoted in a foreign currency make any difference? Why? In dollars; sales were $269,566. What was the net loss in dollars? Some recent financial statements for Smolira Golf Corp. follow.

SMOLIRA GOLF CORP. 2006 and 2007 Balance Sheets Assets Liabilities and Owners' Equity 2006 2007 2006 2007 Current assets Current liabilities $ 18,270 $ 16,215 $ 17,318 $ 22,150 Cash Accounts payable 10,000 13,865 Accounts receivable 12,315 Notes payable 8,000 21,584 $ 52,169 Inventory 24,876 Other 11,145 14,451 $ 60,891 $ 35,360 $ 80,000 $ 41,769 $ 85,000 Total Total Fixed assets Long-term debt $ 184,735 $ 168,326 Owners' equity Net plant and equipment Common stock and $ 20,000 $ 20,000 paid-in surplus Retained earnings 85,135 98,857 $105,135 $220,495 $118,857 $245,626 Total $ 220,495 $ 245,626 Total assets Total liabilities and owners' equity