Assets Current assets Cash Accounts receivable Inventory Total 2020 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 $24,116 $24,800 13,148 15,900 26,392 27,800 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other 2020 2021 $ 23,884 $27,800 17,000 11,500 12,271 15,700 $53,155 $ 55,000 $ 63,656 $68,500 Total Long-term debt $76,000 $80,259 Owners' equity Common stock and paid-In surplus $ 40,000 $40,000 Accumulated retained earnings 226,196 258,741 Fixed assets Net plant and equipment $331,695 $ 365,500 Total $266,196 $ 298,741 $ Total assets $395,351 $434,000 Total liabilities and owners' equity $395,351 434,000 SMOLIRA GOLF CORPORATION 2021 Income Statement $ Sales 396,340 Cost of goods sold 256,000 Depreciation 49,000 Earnings before Interest and $91,340 taxes Interest paid 15,000 Taxable income Taxes (22%) Net Income $ 76,340 16,795 $ 59,545 Dividends Retained earnings $27,000 32,545 Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate): (Enter the 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.) Short-term solvency ratios: 2020 2021 a. Current ratio times times b. Quick ratio times times c. Cash ratio times times Asset utilization ratios: d. Total asset turnover times e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios: 2020 2021 g. Total debt ratio times times h. Debt-equity ratio times times i. Equity multiplier times times j. Times interest earned times k. Cash coverage ratio times Profitability ratios: I. Profit margin m. Return on assets n. Return on equity % % %