EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 24,046 $ 24,255 Accounts payable $ 23.184 $ 27,420 Accounts receivable 12.448 15.235 Notes payable 12.000 10.800 Inventory 25.392 27.155 Other 11.571 15.553 Total S 61.586 S 66.645 Total $ 46.755 5 53.773 Fixed assets Long-term debt $ 80.000 $ 95,000 $324.695 Net plant and equipment $363.734 Owners' equits Common stock and paid-in surplus $ 40.000 S 40.000 Retained earnings 219.826 243.606 Total $259.326 $253.606 Total assets 5386.581 S432.379 Total Liabilities and corners' equity $386,581 $432.379 EARL, GREY GOLF CORP. 2018 Statement of Comprehensive Income Sales $366.996 Cost of goods sold 253.122 Depreciation 32.220 Eamings before interest and tax S 51.654 Interest paid 14.300 Taxable income $ 67.354 Teses (355) 23.574 Net Income $ 43.780 Dividends $20.000 Additions to retained earnings 23.780 27. Calculating Fuancial Ratios (L03) Find the following financial ratios for Earl Grey Golf Corp. (use year-end figures rather than average values where appropriate): Asset utilization ratios d. Total asset turnover Inventory turnover f. Receivables turnover