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please show work. thank you Some recent financial statements for Smolira Golf, Inc., follow SMOLIRA GOLF, INC Balance Sheets as of December 31, 2013 and
please show work. thank you
Some recent financial statements for Smolira Golf, Inc., follow SMOLIRA GOLF, INC Balance Sheets as of December 31, 2013 and 2014 2013 2014 2014 2013 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2,761 2,557 Accounts payable 4,692 12,77813,632 Other $ 2,228 $ 2,750 1,825 105 Accounts receivable 5,631 Notes payable 2,266 122 Inventory $20,231 $ 21,820 Total $ 4,158 $ 5,138 Total $14,800 $ 17,560 Long-term debt Owners' equity Common stock $45,500 $ 45,500 15,72940,207 and paid-in surplus Accumulated retained earnings Fixed assets $59,956 $ 86,585 $61,229 $ 85,707 Net plant and equipment Total $80,187 $108,405 $80,187 $108,405 Total assets Total liabilities and owners' equity SMOLIRA GOLF, INC 2014 Income Statement $190,370 127,703 5,183 Sales Cost of goods sold Depreciation $ 57,484 1,280 EBIT Interest paid $ 56,204 19,671 Taxable income Taxes Net income $ 36,533 Dividends $ 12,055 24,478 Retained earnings Required: Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16). Enter the profitability ratios as percents.) 2013 2014 Short-term solvency ratios 05 times a. Current ratio 0.04 times b. Quick ratio 0.02 times 0.02 times c. Cash ratio 0.66 times 0.50 times Asset utilization ratios 2.02 times d. Total asset turnover 9.67 times e. Inventory turnover f. Receivables turnover times Long-term solvency ratios g. Total debt ratio 23.64 times 20.94 times 30.96 times 26.48 times h. Debt-equity ratio 27.48 times i. Equity multiplier 31.96 times Times interest earned ratio times j. k. Cash coverage ratio Profitability ratios I. Profit margin times m. Return on assets n. Return on equityStep by Step Solution
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