Calculating Financial Ratios

Some recent financial statements for Smolira Golf Corporation follow.

SMOLIRA GOLF CORPORATION
2020 and 2021 Balance Sheets
Assets	2020	2021	Liabilities and Owners Equity	2020	2021
Current assets			Current liabilities
Cash	$ 24,056	$ 24,200	Accounts payable	$ 23,284	$ 27,200
Accounts receivable	12,548	15,300	Notes payable	12,000	10,900
Inventory	25,592	27,200	Other	11,671	15,900
Total	$ 62,196	$ 66,700	Total	$ 46,955	$ 54,000
			Long-term debt	$ 90,000	$ 93,294
			Owners equity
			Common stock and paid-in surplus	$ 42,000	$ 42,000
			Accumulated retained earnings	208,936	242,706
Fixed assets
Net plant and equipment	$ 325,695	$ 365,300	Total	$ 250,936	$ 284,706
Total assets	$ 387,891	$ 432,000	Total liabilities and owners equity	$ 387,891	$ 432,000

SMOLIRA GOLF CORPORATION
2021 Income Statement
Sales		$ 336,329
Cost of goods sold		231,000
Depreciation		21,600
Earnings before interest and taxes		$ 83,729
Interest paid		14,400
Taxable income		$ 69,329
Taxes (21%)		14,559
Net income		$ 54,770
Dividends	$ 21,000
Retained earnings	33,770

Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate):

----------------------------------Please solve for G-N and show work if possible pls-------------------------------------------------------------------

Answer is complete and correct. 2020 2021 Short-term solvency ratios: a. Current ratio 1.32 times 1.24 times b. Quick ratio 0.78 times 0.73 times c. Cash ratio 0.51 times 0.45 times Answer is complete and correct. times Asset utilization ratios: d. Total asset turnover e. Inventory turnover f. Receivables turnover 0.78 8.49 times 21.98 times X Answer is not complete. 2020 2021 0.04 x times times Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier times times times times j. Times interest earned k. Cash coverage ratio times times % Profitability ratios: I. Profit margin m. Return on assets n. Return on equity % %