Assets 2014 Current assets Cash Accounts receivable Inventory 2015 $ 24,106 13,048 26,342 $ 63,496 Total SHOLIRA GOLF CORP 2014 and 2016 Balance Sheets Liabilition and Owners' Equity 2015 2014 Current liabilities $ 24,700 Accounts payable $ 23,784 15,800 Notes payablo 16,000 27.700 Other 12,171 68,200 Total $ 51,055 Long-term debt $ 75,000 Owners' equity Common stock and paid in surplus $ 45,000 Accumulated retained earnings 222.236 $363,800 $267.236 $432,000 Total liabilities and owners' equity $394,191 $ 27,700 11,400 15,900 $ 55,000 $ 90,000 Fixed assets Net plant and equipment $330,695 $ 45,000 242.000 Total Total assets $394,191 $287.000 $432 000 SMOLIRA GOLF CORP. 2015 Income Statement Sales Cost of goods sold Depreciation $367,234 235,500 38,600 Earnings before interest and taxes Interest paid $ 93,134 14.900 Taxable income Taxes (30%) $ 78,234 23,470 Net Income $ 54,764 Dividends Retained earnings $ 35,000 19.764 Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio 1. Equity multiplier 2014 2015 times times times times times times J. Times interest eamed k. Cash coverage ratio times times