2, Some recent financial statements for Smolira Golf, Inc., follow. 2018 2019 Assets SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2019 2018 Liabilities and Owners' Equity Current liabilities $ 3,407 Accounts payable $ 2,143 5,801 Notes payable 1,740 13,802 Other 88 Current assets Cash Accounts receivable Inventory $ $ 3,251 4,777 12,438 2,580 2,096 105 Total $ 20,466 $ 23,010 Total $ 3,971 $ 4,781 $ 13,600 $ 16,360 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ Fixed assets $ 37,000 15,644 37,000 38,966 Net plant and equipment $ 49,749 $ 74,097 Total $ 52,644 $ 75,966 Total assets $ 70,215 $ 97,107 Total liabilities and owners' equity $ 70,215 $ 97,107 SMOLIRA GOLF, INC. 2019 Income Statement Sales $ 186,970 Cost of goods sold 126,003 Depreciation 5,353 $ EBIT Interest paid 55,614 1,450 $ Taxable income Taxes 54,164 18,957 Net income $ 35,207 $ Dividends Retained earnings 11,885 23,322 2a), Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): 2018 2019 c. Short-term solvency ratios a. Current ratio b. Quick ratio Asset utilization ratios Total asset turnover d. Inventory turnover Long-term solvency ratios Total debt ratio Debt-equity ratio g. Equity multiplier Profitability ratios h. Profit margin i. Return on assets e. j. Return on equity