Assets 2017 2018 Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 25,800 Accounts payable $ 24,884 16,900 Notes payable 18,000 28,800 Other 13,271 $ 24,216 14,148 27,722 $ 28,800 12,500 16,700 Total $ 66,086 $ 71,500 Total $ 56,155 $ 58,000 Long-term debt $ 86,000 $ 84,888 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 50,000 $ 50,000 215,626 241,112 Fixed assets Net plant and equipment $341,695 $362,500 Total $265,626 $ 291,112 Total assets $ 407,781 $434,000 Total liabilities and owners' equitv $ 407,781 $434,000 $357,290 241,600 32,400 2018 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid $ 83,290 16,000 Taxable income Taxes (22%) $ 67,290 14,804 Net income $ 52,486 Dividends Retained earnings $27,000 25,486 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: a. Current ratio b. Quick ratio Cash ratio times times times times times times c. Asset utilization ratios: d. Total asset turnover e Inventory turnover f. Receivables turnover times times times 2017 2018 Long-term solvency ratios: g. Total debt ratio n. Debt-equity ratio i. Equity multiplier times times times times times times j. Times interest earned Cash coverage ratio times times k. % Profitability ratios: L Profit margin m. Return on assets Return on equity % n. %