2017 and 2018 Balance Sheets
Assets									Liabilities and Owners Equity
	2017				2018					2017				2018
Current assets									Current liabilities
Cash	$	23,996			$	25,600			Accounts payable	$	24,684			$	28,600
Accounts receivable		13,948				16,700			Notes payable		16,000				12,300
Inventory		27,462				28,600			Other		13,071				19,100
Total	$	65,406			$	70,900			Total	$	53,755			$	60,000
									Long-term debt	$	84,000			$	91,541
									Owners equity
									Common stock and paid-in surplus	$	60,000			$	60,000
									Accumulated retained earnings		207,346				220,460
Fixed assets
Net plant and equipment	$	339,695			$	361,100			Total	$	267,346			$	280,460
Total assets	$	405,101			$	432,000			Total liabilities and owners equity	$	405,101			$	432,000

SMOLIRA GOLF CORP. 2018 Income Statement
Sales					$	376,068
Cost of goods sold						260,000
Depreciation						49,450
Earnings before interest and taxes					$	66,618
Interest paid						15,800
Taxable income					$	50,818
Taxes (25%)						12,705
Net income					$	38,114
Dividends	$	25,000
Retained earnings		13,114

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.

Short-term solvency ratios:		2017		2018
a.	Current ratio		times		times
b.	Quick ratio		times		times
c.	Cash ratio		times		times

Asset utilization ratios:
d.	Total asset turnover		times
e.	Inventory turnover		times
f.	Receivables turnover		times