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I really just need help with how to calculate this. Struggling a lot would greatly appreciate the help. Assets 2017 2018 Current assets Cash Accounts
I really just need help with how to calculate this. Struggling a lot would greatly appreciate the help.
Assets 2017 2018 Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 25,400 Accounts payable $ 24,484 16,500 Notes payable 14,000 28,400 Other 12,871 $ 23,076 13,748 27,252 $ 28,400 12,100 17,500 Total $ 64,076 $ 70,300 Total $ 51,355 $ 58,000 Long-term debt $ 82,000 $ 91,741 $ 45,000 10 $ 45,000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings 223,416 239,659 Fixed assets Net plant and equipment $337,695 $364,100 Total $268,416 $284,659 Total assets $ 401,771 $434,400 Total liabilities and owners' equity $ 401,771 $434,400 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation $352,549 229,000 41,400 Earnings before interest and taxes Interest paid $ 82,149 15,600 Taxable income Taxes (23%) $ 66,549 15,306 Net income $ 51,243 Dividends Retained earnings $35,000 16,243 Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): (Enter your profitability ratio 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.) 2017 2018 | times times Short-term solvency ratios: Current ratio b. Quick ratio c. Cash ratio times times times times d. times Asset utilization ratios: Total asset turnover Inventory turnover Receivables turnover 8.06 times 21.37 times 2017 2018 a. lolal Long-term solvency ratios: Total debt ratio h. Debt-equity ratio Equity multiplier times times times 0.34 times times 1.52 times times Times interest earned Cash coverage ratio k. times Profitability ratios: Profit margin m. Return on assets n. Return on equity 14.54% 11.80 % 18.00 %Step by Step Solution
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