Problem 3-29 Market Value Ratios [LO2] Some recent financial statements for Smolira Golf Corporation follow. Assets SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2020 2021 Current assets Cash $ 35,085 $38,480 Accounts receivable 18,151 Inventory Total 28,396 3,820 42,912 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other $ 57,056 $109,788 Total Long-term debt Owners' equity 2020 2021 $ 37,852 $ 42,932 19,708 16,725 25,194 20,494 $ 78,054 $ 84,851 $118,500 $181,793 Fixed assets Common stock and paid-in surplus $55,700 $55,700 Accumulated retained earnings Net plant and equipment $465,010 $520,683 Total 269,812 308,127 $ $325,512 363,827 Total assets 522,066 $ 630,471 Total liabilities and owners' equity $ 630,471 522,066 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales 509,954 Cost of noods sold 361778