Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 27,900 $ 24,126 13,248 26,542 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable

image text in transcribed
image text in transcribed
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 27,900 $ 24,126 13,248 26,542 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 23,984 Notes payable 18,000 Other 12,371 $ 24,900 16,000 27,900 11,600 16,500 Total $ 63,916 $ 68,800 Total $ 54,355 $ 56,000 Long-term debt $ 77,000 $ 74,606 $ 50,000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 50,000 215,256 250,394 Fixed assets Net plant and equipment $332,695 $362,200 Total $265,256 $300,394 Total assets $ 396,611 $ 431,000 Total liabilities and owners' equity $ 396,611 $ 431,000 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid $ 392,907 256,500 48,400 $ 88,007 15,100 Taxable income Taxes (23%) $ 72,907 16.769 Net Income $ 56,138 Dividends Retained earnings $21.000 35,138 The company's profit margin is percent. (Use year-end figures rather than average values where appropriate. Enter your answer as a percent rounded to 2 decimal places, e.g. 32.16.) The total asset turnover is times. (Round your answer to 2 decimal places, eg, 32.16.) The equity multiplier is times (Round your answer to 2 decimal places, e.g. 32.16.) Using the DuPont Identity, the company's ROE is percent (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essential Mathematics For Economic Analysis

Authors: Knut Sydsaeter, Peter Hammond, Arne Strom

4th Edition

0273760688, 9780273760689

More Books

Students also viewed these Finance questions

Question

Define BATNA and fractionation.

Answered: 1 week ago

Question

=+c) How many baseballs produced were out of spec?

Answered: 1 week ago

Question

What is the cerebrum?

Answered: 1 week ago