27) Find the following financial ratios for Smolira Golf Corp. Short-term solvency ratios Current ratio b. Quick ratio a 7 c. Cash ratio Asset turnover ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio h. Equity multiplier 1. Times interest earned ratio 1. Cash coverage ratio Profitability ratios k. Profit margin 1. Return on assets m. Return on equity Smolira Golf Corp Balance Sheets as of December 31,2001 and 2002 2001 2002 2001 2002 Assets Current assets Cash Acc. receivable Inventory Total $650 $2,382 $4,408 $7,440 $710 $2,106 $4,982 $7,798 Liabilities & Equity Current liabilities Accounts payable Notes payable Other Total Long-term debt Owners' Equity $987 $640 $90 $1.717 $4,318 $1,215 $718 $230 $2,163 $4,190 Fixed assets Net Plant & equipment $13,992 $18,584 Common stock Retained eamings Total Total $10,000 $5.397 $15,397 $21,432 $10,000 $10.029 $20.029 $26,382 Total assets $21,432 $26,382 Smolira Golf Corp 2002 Income Statement $28,000 $11,600 $2,140 Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income $14,260 $980 $13,280 8 Taxes (35%) Net Income $4,648 $8.632 Dividends Addition to retained earnings $4.000 $4,632