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plz ans this. i need Q No.11 SMOLIRA GOLF CORP. Balance Sheet as of December 31, 2015 ASSETS LIABILITIES & OWNER'S EQUITY RUPEES RUPEES Current
plz ans this. i need
Q No.11 SMOLIRA GOLF CORP. Balance Sheet as of December 31, 2015 ASSETS LIABILITIES & OWNER'S EQUITY RUPEES RUPEES Current Assets: Cash Accounts Receivable Inventory Total Current Assets 710 2106 4982 7,798 Current Liabilities: Accounts Payable Notes Payable Other Total Current Liabilities 1,215 718 230 2,163 4,190 Fixed Assets: Net plant and Equipment 18,584 18,584 Long-term debt Owner's Equity: Common Stock and paid-in surplus Retained Earnings 10,000 10,029 20,029 26,382 Total Assets 26,382 Total Liabilities & Owner's Equity SMOLIRA GOLF CORP. Income Statement as on December 31, 2015 Sales Less: Cost of goods sold Depreciation Earnings before interest and taxes Less:Interest paid Taxable income Taxes (35%) Net Income RUPEES 28,000 11,600 2,140 14,260 980 13,280 4,648 8,632 Rs. Dividend Addition to retainedearnings 4000 4,632 Calculate following ratios: Short-term solvency ratios; a. Current Ratio b. Quick Ratio C. Cash Ratio Asset utilization ratios; d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios; g. Total debt ratio h. Debt-equity ratios i. Equity multiplier j. Times interest earned ratio Profitability Ratios; k. Profit Margin I. Return on Assets m. Return on equityStep by Step Solution
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