hard time understanding this, please explain and answer so i can learn! thanks!

Problem 3-26 Calculating Financial Ratios (LO2) Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 2018 Current liabilities $ 25,600 Accounts payable $ 24,684 $ 28,600 16,700 Notes payable 16,000 12,300 $ 23,996 Current assets Cash Accounts receivable Inventory 13,948 27,462 28,600 Other 13,071 19,100 Total $ 65,406 $ 70,900 Total $ 53,755 $ 60,000 Long-term debt $ 84,000 $ 91,541 $ 60,000 $ 60,000 Owners' equity Common stock and paid in surplus Accumulated retained earnings 207,346 220,460 Fixed assets Net plant and equipment $339,695 $ 361,100 Total $267,346 $280,460 Total assets $ 405,101 $432,000 Total Walles and owners' equity $ 405,101 $432,000 SMOLIRA GOLF CORP. 2018 Income Statement Sales $ 376,068 Cost of goods sold 260,000 Depreciation 49,450 Earnings before interest and taxes Interest pald $ 66,618 15,800 Taxable income Taxes (25%) $ 50,818 12,705 Net income $ 38,114 Dividends Retained earnings $25,000 13 114 Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate) (Enter your profitabllity ratlo answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) Find the following financial ratios for Smollra Golf Corp. (use year-end figures rather than average values where appropriate). (Enter your profitability ratlo answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) Short-term solvency ratios: 2017 2018 a Current ratio times b. Quick ratio times times times times C. Cash ratio times Asset utilization ratios: d. times e Total asset turnover Inventory turnover Receivables turnover times f. times 2017 2018 times Long-term solvency ratios: 9 Total debt ratio h Debt-equity ratio 1 Equity multiplier times times times times times Times interest earned times k. Cash coverage ratio times Profitability ratios: 1 Profit margin % m. Return on assets % n Return on equity %