Assets 2017 2018 Current assets Cash Accounts receivable Inventory $ 23,086 13,848 27,362 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 25,500 Accounts payable $ 24,584 16,600 Notes payable 15,000 28.500 Other 12,971 $ 70,600 Tota! $ 52,555 Long-term debt $ 55,000 $ 28,500 12,200 18,300 Total $ 64.296 $ 59,000 $ 49,383 $ 52.000 $ 52,000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings 243,436 274.617 Fixed assets Net plant and equipment $338,695 $364,400 Total $295,436 $ 326,617 $ 402.991 Total assets $435,000 Total liabilities and owners! equity $ 402.991 $435.000 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation $ 359,607 235,900 35,400 Earnings before interest and taxes Interest paid $ 88,307 15,700 Taxable income Taxes (24%) $ 72,607 17,426 Net income $ 55,181 Dividends Retained earnings $24.000 31,181 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, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) 2017 2018 Short-term solvency ratios: Current ratio b. Quick ratio C. Cash ratio times times times times times times times Asset utilization ratios: Total asset turnover Inventory turnover Receivables turnover e. f. times times 2017 2018 Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i Equity multiplier times times times times times times Times interest earned Cash coverage ratio times times | % Profitability ratios: L Profit margin m. Return on assets n. Return on equity 1