Assets Current assets Cash Accounts receivable Inventory Total 2020 Total assets Fixed assets Net plant and equipment $336,695 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 $23,066 $25,300 13,648 16,400 27,152 28,300 $63,866 $70,000 364,000 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total $ 400,561 $ 434,000 Total liabilities and owners' equity 2020 2021 $24,384 $28,300 14,000 12,000 12,771 19,700 $ 51,155 $60,000 $81,000 $85,703 $ 55,000 $ 55,000 213,406 233,297 $ 268,406 288,297 $ 400,561 $ 434,000 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (22%) Net income Dividends Retained earnings $ 22,000 19,891 $ 333,706 215,200 49,300 $ 69,206 15,500 $ 53,706 11,815 $ 41,891 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: a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios: d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios: 9. Total debt ratio h. Debt-equity ratio Equity multiplier 2020 times times times times times times 2020 times times times 2021 2021 times times times times times times Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned k. Cash coverage ratio Profitability ratios: 1. Profit margin m. Return on assets n. Return on equity 2020 times times % % % times times times 2021 times times times