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Problem 3-27 DuPont Identity (LO3] Some recent financial statements for Smolira Golf Corporation follow. 2020 2021 Assets Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2020 2021 Liabilities and Owners' Equity Current liabilities $ 23,056 $25,200 Accounts payable 13,548 16,300 Notes payable 26,982 28,200 Other $ 24,284 $ 28,200 13,000 11,900 12,671 19,900 Total $ 63,586 $ 69,700 Total $ 49,955 $ 60,000 Long-term debt $ 80,000 $ 81,337 Fixed assets Net plant and equipment $335,695 Owners' equity Common stock alid pald-in surplus $ 60,000 $ 60,000 Accumulated retained earnings 209,326 232,663 $ Total $ 269,326 292,663 364,300 Total assets $ 399,281 $ 434,000 Total liabilities and owners' equity $399,281 434,000 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Denreciation $ 375,123 258,000 45 600 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation Earnings before Interest and taxes Interest paid $ 375,123 258,000 45,600 $ 71,523 15,400 $ 56,123 11,786 Taxable income Taxes (21%) Net income $ 44,337 Dividends Retained earnings $ 21,000 23,337 Construct the DuPont identity for Smolira Golf Corporation percent The company's profit marginis The total asset turnover is The equity multiplier is Using the DuPont identity, the company's ROE IS times. times (Use year-end figures rather than average values where appropriate, Enter answer as a percent rounded to 2 decimal places, 9. 32.16.) (Round your answer to 2 decimal places, o... 32.16.) (Round your answer to 2 decimal places, e.g. 32.16.) (Do not round Intermediate calculations and enter your answer as a percen rounded to 2 decimal places, e.g., 32.16.) percent