3. Some recent financial statements for Smolira Golf Corp. follow 10 points Assets 2017 2018 Skipped SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 25,000 Accounts payable $ 24,084 16,100 Notes payable 19,000 28,000 Other 12,471 Current assets Cash Accounts receivable Inventory $ 28,000 $ 24,136 13,348 26,722 11,700 eBook 18,300 Total $ 64,206 $ 69,100 Reference Total $ 55,555 $ 58,000 Long-term debt $ 78,000 $ 91,532 Owners' equity Common stock and paid in surplus Accumulated retained earnings $ 60,000 $ 60,000 204,346 223,468 Fixed assets Net plant and equipment $333,695 $363,900 Total $264,346 $283,468 Total assets $ 397.901 $433,000 Total liabilities and owners equity $ 397,901 $433,000 3 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation 10 points 383,818 257,000 48,300 Skipped $ 78,518 15,200 eBook Earnings before interest and taxes Interest paid Taxable income Taxes (24%) Net income $ 63,318 15,196 References $ 48,122 Dividends Retained earnings $29,000 19,122 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, eg.. 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) 2017 2018 0 times times Short-term solvency ratios: Current ratio Quick ratio Cash ratio b. times times times C times 3 10 points d times Asset utilization ratios: Total asset tumover Inventory tumover Receivables turnover times Skipped e 1. times Boch References 2017 2018 times times Long-term solvency ratios: Q Total debt ratio hi Debt-equity ratio Equity multiplier times times times times Times interest eamed Cash coverage ratio times times K