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Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2,851 $ 2,707 Accounts payable $ 2,213 $ 2,720 Accounts receivable 4,707 5,661 Notes payable 1,810 2,236 Inventory 12,718 13,662 Other 102 119 Total $20,276 $ 22,030 Total $ 4125 $ 5,075 $ 14,500 $ 17,260 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $44,008 $ 44,000 15,714 39,988 Fixed assets Net plant and equipment $58,063 $ 84,293 Total $ 59,714 $ 83,988 Total assets $ 78,339 $106,323 Total liabilities and owners' equity $78,339 $ 106,323 SMOLIRA GOLF, INC. 2019 Income Statement 189,770 Sales $ 127,403 Cost of goods sold Depreciation 5,213 EBIT Interest paid $ 57,154 1,310 Taxable income Taxes $55,844 19,545 Net income $36,299 Dividends Retained earnings $ 12,025 24,274 times times times times times times Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio Equity multiplier j. Times interest earned ratio k. Cash coverage ratio Profitability ratios 1. Profit margin m. Return on assets n. Return on equity times times % % %