LO 2 34. Ratios and Foreign Companies. Prince Albert Canning PLC had a net loss of 27,860 on sales of 512,621. What was the company's profit margin? Does the fact that these figures are quoted in a foreign currency make any difference? Why? In dollars, sales were $765,828. What was the net loss in dollars? Some recent financial statements for Smolira Golf, Inc., follow. Use this infor- mation to work Problems 35 through 38. 2016 I SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 4,607 $ 4,910 Accounts payable $ 3,413 Accounts receivable 6,702 8,149 Notes payable 2,768 Inventory 17,357 19,350 Other 130 Total $28,666 $ 32,409 Total $ 6,319 Long-term debt $22,500 Owners' equity Common stock and pald-in surplus $38,000 Fixed assets Accumulated retained earnings 20.535 Net plant and equipment 58,688 76,810 Total $58,535 Total assets $87,354 $109,219 Total liabilities and owners' equity $87,354 $ 3,846 3,416 165 $ 7,427 $ 19,000 $ 38,000 44.792 $ 82,792 $109,219 SMOLIRA GOLF, INC. 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes T Net income Dividends Additions to retained earnings $205,227 138,383 5,910 $ 60,934 1,617 $ 59,317 20,760 $ 38,557 $14,300 24,257