Chrome File Edit View History Bookmarks Profiles Tab Window Help Assignments: Principles of Fine x Question 9 - Chapter 2/3 Probili x Assignment Print View X C Some Recent Financial Statem X | + C ezto.mheducation.com/api/caa/activity/C15Print?jwt-eyJhbGciOiJSUzI1NiJ9.eyJlbnZpcm9ubWVudCI6InByb2QiLCJpc3MiOiJlenQiLCJwcmludFVSTCI6Imh.... Awalu. 10.00 points Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2019 2018 Liabilities and Owners' Equity Assets Current assets Current liabilities Cash Accounts payable Accounts receivable $2.911 $ 2,807 4,717 5,681 13,682 Notes payable S 2,203 $2,700 1,800 100 2,216 117 Inventory 12,678 Other Total $20,306 $ 22,170 Total S 4,103 $ 5,033 Long-term debt $ 14,300 $17,060 Owners' equity Common stock and paid-in surplus $43,000 $43,000 Fixed assets Accumulated retained earnings 15,704 39,842 $56,801 $82,765 Total $58,704 $82,842 Net plant and equipment Total assets $77,107 $104,935 Total liabilities and owners' equity $77,107 $104,935 Sales S 189,370 Cost of goods sold Depreciation 127,203 5,233 EBIT $ 56,934 1,330 Interest paid Taxable income Taxes $ 55,604 19,461 Net income S 36,143 $ 12,005 24,138 JUN 4 RE 34 J. SMOLIRA GOLF, INC. 2019 Income Statement Dividends Retained earnings 292 NO tv A O QO Sat Jun 4 12:24 AM M Preview File Edit View Go Tools Window Help Assignments: Principles of Fine x Question 9 - Chapter 2/3 Probili x Assignment Print View. C Some Recent Financial Statem x | + C ezto.mheducation.com/api/caa/activity/C15Print?jwt-eyJhbGciOiJSUzI1NiJ9.eyJlbnZpcm9ubWVudCI6InByb2QiLCJpc3MiOiJlenQiLCJwcmludFVSTCI6Imh... Dividends Retained earnings $ 12,005 24,138 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent.) 2018 2019 Short-term solvency ratios a. Current ratio b. Quick ratio C. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover P f. Receivables turnover Long-term solvency ratios 9. Total debt ratio F h. Debt-equity ratio F L Equity multiplier j. Times interest earned ratio + Cash coverage ratio tv A R P k. Profitability ratios maomy I. Profit margin m. Return on assets *** n. Return on equity References Worksheet 3.62 times times times times times times times times times times times times times times times times times % % % Leaming Obiective: 03-02 Compute and 292 JUN 4 alt S @ 29 Sat Jun 4 12:24 AM M
