2. Some recent financial statements for Smolira Golf, Inc., follow 2019 Assets $ 2.500 2.096 105 Current assets Cash Accounts receivable Inventory Total $ 4,781 SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 Liabilities and Owners' Equity Current liabilities $ 3.251 $ 3,407 Accounts payable $ 2.143 4.777 5,801 Notes payable 1,740 12.438 13,802 Other 88 $ 20,466 $ 23,010 Total $ 3.971 Long-term debt $ 13.600 Owners' equity Common stock and pald-in surplus $ 37.000 Accumulated retained earnings 15,644 $ 49,749 $ 74,097 Total $ 52.644 $ 70,215 $ 97,107 Total liabilities and owners' equity $ 70,215 $ 16.300 $ 37,000 38.956 $ 75.966 Fixed assets Net plant and equipment Total assets $ 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 Short-term solvency ratios Current ratio b. Quick ratio Asset utilization ratios c. Total asset turnover d. Inventory turnover Long-term solvency ratios e. Total debt ratio Debt-equity ratio g. Equity multiplier Profitability ratios h. Profit margin I. Return on assets U. Return on equity 2b), Construct the Dupont Identity for Smolira Golf, Inc. Profit margin Total asset turnover Equity multiplier Return on equity (Using Dupont Identity)