16.

Some recent financial statements for Smolira Golf Corp. follow.

SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets
Assets									Liabilities and Owners Equity
	2014				2015					2014				2015
Current assets									Current liabilities
Cash	$	23,086			$	25,500			Accounts payable	$	24,584			$	28,500
Accounts receivable		13,848				16,600			Notes payable		15,000				12,200
Inventory		27,362				28,500			Other		12,971				18,300
Total	$	64,296			$	70,600			Total	$	52,555			$	59,000
									Long-term debt	$	55,000			$	61,000
									Owners equity
									Common stock and paid-in surplus	$	52,000			$	52,000
									Accumulated retained earnings		243,436				263,000
Fixed assets
Net plant and equipment	$	338,695			$	364,400			Total	$	295,436			$	315,000
Total assets	$	402,991			$	435,000			Total liabilities and owners equity	$	402,991			$	435,000

SMOLIRA GOLF CORP. 2015 Income Statement
Sales					$	359,607
Cost of goods sold						235,900
Depreciation						35,400
Earnings before interest and taxes					$	88,307
Interest paid						15,700
Taxable income					$	72,607
Taxes (40%)						29,043
Net income					$	43,564
Dividends	$	24,000
Retained earnings		19,564

Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): (Enter your profitability ratio answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.)

Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): (Enter your profitability ratio answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) 2015 Short-term solvency ratios 2014 1.22 times 1.2 times a. Current ratio .7 times 71 times b. Quick ratio 44 times 43 times C. Cash ratio Asset utilization ratios: 89 times d. Total asset turnover 8.28 times e. Inventory turnover 21.66 O times f. Receivables turnover Long-term solvency ratios 2014 2015 .27 times .27 times g. Total debt ratio 19 times 19 times h. Debt-equity ratio 7.75 times 7.75 times i. Equity multiplier 5.63 times j. Times interest earned k. Cash coverage ratio 7.88 times Profitability ratios 24.56 I. Profit margin 22 m. Return on assets 83.78 n. Return on equity