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f. What is the receivables turnover? h. What is debt-equity ratio for 2018? i. What is equity multiplier for 2018? m. What is return on
f. What is the receivables turnover?
h. What is debt-equity ratio for 2018?
i. What is equity multiplier for 2018?
m. What is return on assets?
SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash Accounts $23,046 25,100 16,200 28,100 $ 63,316 69,400 $ 24,184 $ 28,100 11,800 19,100 $ 56,755 $59,000 $ 79,000 83,424 Accounts payable Notes payable Other 13,448 20,000 receivable Inventory 26,822 12,571 Total Total Long-term debt Owners' equity Common stock and paid-in $ 48,000 $48,000 surplus Accumulated retained 214,256 243,576 earnings Fixed assets Net plant and $334,695 $364,600 Total $262,256$291,576 equipment Total liabilities and owners' Total assets 398,011 $434,000 398,011 $434,000 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreciation $349,760 241,500 27,200 Earnings before interest $ 81,060 and taxes Interest paid 15,300 Taxable income Taxes (25%) $65,760 16,440 Net income $ 49,320 Dividends Retained earnings $20,000 29,320Step by Step Solution
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