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FIN 3403: Summer 2017 online FINANCE Chapter 3 Homework Question 8 (of 100 Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current assets Current liabilities 23.056 25,200 Cash Accounts payable 24,284 28,200 13.000 Accounts receivable 3.548 16.300 Notes payable 11.900 Inventory 26.982 28.200 Other 2.67 19.900 Total 63,586 69,700 Total 49,955 60.000 80.000 92.000 Long-term debt Owners' equity Common stock and paidin surplus 60.000 60.000 222.000 Accumulated retained earnings 209.326 Fixed assets Net plant and equipment $335,695 $364.300 Total $269.326 $282.000 Total assets Total liabilities and owners' equity $399.28 $434.000 $399.28 $434.000 SMOLIRA GOLF CORP. 2015 Income Statement Sales $375,123 258,000 Cost of goods sold Depreciation 45,600 Earnings before interest and taxes 71,523 Interest paid 5,400 Taxable income 56,123 Taxes (40% 22,449 33,674 Net income Dividends 21.000 Retained earnings 2.674 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 Kurtus Atwater instructions help Save & Exit Submit