2018 2019 Liabilities and Owners' Equity $ 3,754 $ 3,986 3,045 152 3,318 179 $ 6,951 $ 7,483 $ 24,700 $16,000 2018 2019 Assets Current assets Cash Current liabilities Accounts receivable Inventory $ 5,298 $ 5,827 7,707 Accounts payable 8,477 Notes payable 12,150 21,956 Other Total $ 25,155 $36,260 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Fixed assets Net plant and $ 75,301 $ 79,412 Total equipment Total assets $100,456 $115,672 SMOLIRA GOLF, INC. 2019 Income Statement Sales $ 229,854 Cost of goods 184,317 sold Depreciation 8,730 EBIT $ 36,807 Interest paid 1,811 Taxable income $ 34,996 Taxes 7,349 Net income 27,647 Dividends $ 16,000 Retained 11,647 earnings $ 40,000 $ 37,000 28,805 55,189 Total liabilities and owners' equity $ 68,805 $ 92,189 $100,456 $ 115,672 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin, return on assets, and return on equity as a percent.) 2018 2019 Short-term solvency ratios a. Current ratio b. Quick ratio 3.62 times 4.85 times 1.87 times 1.91 times c. Cash ratio 0.76 times 0.78 times Asset utilization ratios d. Total asset turnover times e. Inventory turnover f Receivables turnover Long-term solvency ratios times times g Total debt ratio times h. Debt-equity ratio times i Equity multiplier times j. Times interest earned ratio 20.32 times k. Cash coverage ratio 25.14 times Profitability ratios I Profit margin m. Return on assets n. Return on equity 12.03 % 23.90% 29.99% 13