2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $23,046 $ 25,100 16,200 28,100 $ 63,316 69,400 $ 24,184 $ 28,100 11,800 19,100 $ 56,755 $59,000 $ 79,000 $ 83,424 Cash Accounts Accounts payable Notes payable Other 13,448 20,000 receivable Inventory 26,822 12,571 Total Total Long-term debt Owners' equity Common stock and paid-in 48,000 48,000 surplus Accumulated retained 214,256 243,576 earnings Fixed assets Net plant and $334,695 $364,600 Total $262,256 $291,576 equipment Total liabilities and owners" equity lotal assets $ 398,011 $434,000 398,011 $434,000 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreciation $349,760 241,500 27,200 Earnings before interest $ 81,060 and taxes Interest paid 15,300 Taxable income Taxes (25%) $ 65,760 16,440 Net income $ 49,320 Dividends Retained earnings $20,000 29,320 Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather thar 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.) Short-term solvency ratios: a. Current ratio b. Quick ratio c. Cash ratio 2017 2018 times times times times times times Asset utilization ratios: d. Total asset turnover e. Inventory turnover f.Receivables turnover times times times Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier 2017 2018 times times times times times times j. Times interest earned k. Cash coverage ratio times times Profitability ratios: I. Profit margin m. Return on assets n. Return on equity 0 0 0