1 Financial statements for Smolira Golf Corp. are given below.

SMOLIRA GOLF CORP. Balance Sheet for Dec 31, 2012
Assets		Liabilities and Owners Equity
Current assets		Current liabilities
Cash	$24,255	Accounts payable	$27,420
Accounts receivable	15,235	Notes payable	10,800
Inventory	27,155	Other	15,553
Total	66,645	Total	53,773
		Long-term debt	$95,000
		Owners equity
		Common stock and paid-in surplus	$40,000
Fixed assets		Accumulated Retained earnings	243,606
Net plant and equipment	365,734	Total	$283,606
Total assets	$432,379	Total liabilities and owners equity	$432,379

SMOLIRA GOLF CORP. Income Statement for the period of December 2012.
Sales	$366,996
Cost of goods sold	253,122
Depreciation	32,220
Earnings before interest and taxes	$81,654
Interest paid	14,300
Taxable Income	$67,354
Taxes (35%)	23,574
Net Income	$43,780

Required:

Evaluate and interpret Short-term solvency ratios, Asset utilization ratios, Long-term solvency ratios and Profitability ratios from the given financial information. (8 Marks)