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K L M N PLEASE Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and
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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 $ 2,941 $ 2,857 Accounts payable $ 2,198 $ 2,690 Accounts receivable 4,722 5,691 Notes payable 1,795 2,206 Inventory 12,658 13,692 Other 99116 Total $20,321 $22,240 Total $ 4,092 $ 5,012 $ 14,200 $16,960 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $42,500 $ 42,500 Fixed assets 15,699 39,769 Net plant and equipment $ 56,170 $ 82,001 Total $ 58,199 $ 82,269 Total assets $76,491 $104,241 Total liabilities and owners' equity $ 76,491 $ 104,241 SMOLIRA GOLF, INC. 2019 Income Statement Sales $189,170 Cost of goods sold Depreciation 5.243 127,103 EBIT Interest paid $56,824 1,340 Taxable income Taxes $55,484 19,419 Net income $36,065 Dividends Retained earnings $ 11,995 24,070 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent.) 2018 2019 4.97 times 1.87 times 0.72 times 4.44 times 1.71 times 0.57 times 2.09 times 9.65 times 36.33 times Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier Times interest earned ratio Cash coverage ratio Profitability ratios Profit margin Return on assets Return on equity 0.19 times 0.24 times 1.31 times 0.16 times 0.21 times 1.27 times 42.41: times times mStep by Step Solution
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