LO 2 35. Calculating Financial Ratlos. Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): 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 8. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio k. Cash coverage ratio Profitability ratios 1. Profit margin m. Return on assets 1. Return on equity 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 abilities Cash $4,607 $ 4.910 Accounts payable $ 3,413 Accounts receivable 6,702 3.149 Notes payable 2.768 Inventory 17.357 19 350 Other 130 Total $28.666 $ 32.409 Total $ 6,319 Long term det $22.500 Owners' equity Common stock and paid 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 3416 165 $ 7,427 $19.000 $ 30.000 44,792 $ 82.792 $109,219 CHAPTER 3 Working with Financial Statements SMOLIRA GOLF, INC. 2016 Income Statement Sales I Cost of goods sold Depreciation EBIT Interest pald Taxable income Taxes Net income Dividends $14,300 Additions to retained earnings 24,257 $205,227 138,383 5,910 $ 60,934 1,617 $ 59,317 20,760 $ 38,557