Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assets 2017 2018 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 26.000 Accounts payable $ 25,084

image text in transcribed
image text in transcribed
Assets 2017 2018 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 26.000 Accounts payable $ 25,084 17,100 Notes payable 19.000 29,000 Other 13.471 Current assets Cash Accounts receivable Inventory Book $ 24.236 14,348 $ 29,000 Hint 12,700 27.892 18,300 Total $ 66,476 $ 72,100 erences Total $ 57,555 $ 60,000 Long-term debt $ 88,000 $ 87698 Owners' equity Common stock and paid in surplus Accumulated retained earnings $ 45,000 $ 45,000 219,616 248302 Fixed assets Net plant and equipment $343,695 $364.900 Total $264.616 $289,302 Total assets $ 410.171 $ 437,000 Total liabilities and owners equity $ 410,171 $ 437,000 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreciation $392640 257,000 48.800 Earnings before interest and taxes Interest paid $ 86,840 16.200 Taxable income Taxes (24%) $ 70,640 16,954 Net income $ 53,686 Dividends Retained earnings $29,000 24,686 The company's profit marginis 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 turnovers times. (Round your answer to 2 decimal places, 9. 32.16) The equity multiplier is (Round your answer to 2 decimal places, 0.32.16) Using the DuPont entity, the company's ROES percent (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, ... 32.15.)

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_2

Step: 3

blur-text-image_3

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

Entrepreneurial Financial Management An Applied Approach

Authors: Jeffrey R Cornwall, David O Vang, Jean M Hartman

5th Edition

0367335417, 978-0367335410

More Books

Students also viewed these Finance questions

Question

What elements of multimedia-based instruction facilitate learning?

Answered: 1 week ago