2018 CARL ONET VULT CUP 2017 and 2018 Statement of Financial Position Assets Liabilities and Owners' Equity 2017 2018 2017 Current assets Current liabilities Cash $ 24,046 $ 24,255 Accounts payable $ 23, 184 Accounts receivable 12,448 15,235 Notes payable 12,000 Inventory 25,392 27, 155 Other 11,571 Total $ 61,886 $ 66,645 Total 546,755 Long-term debt 5 B,000 Fixed assets Owners' equity Net plant and equipment $324,695 $365, 734 Conmon stock and paid-in surplus $ 40.000 Retained earnings 219,826 Total $259,826 Total assets $386,581 $432,379 Total liabilities and owners' equity $386,581 $ 27,420 10,880 15,553 $ 53,773 $ 40,000 243,66 $283, 606 $432,379 EARL GREY GOLF CORP. 2018 Statenent of Comprehensive Income Sales $366,996 Cost of goods sold 253, 122 Depreciation 32,220 Earnings before interest and taxes $ 81,654 Interest paid 14,300 Taxable income $ 67,354 Taxes (354) 23,574 Net income $ 43,780 Dividends $20,000 Additions to retained earnings 23,780 Short-term solvency ratios: a. Current ratio b. Quick ratio c. Cash ratio 2017 times times times 2018 times times times Asset utilization ratios: d. Total asset turnover e. Inventory turnover f. Receivables turnover times times times 2017 2018 Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier times times times times j. Times interest earned k. Cash coverage ratio times times Profitability ratios: 1. Profit margin m. Return on assets n. Return on equity