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Problem 3-35 Calculating Financial Ratios Some recent financial statements for Smolira Golf, Inc., follow 2015 2016 2015 2016 Liabilities and Owners' Equity Current assets Current

Problem 3-35 Calculating Financial Ratios image text in transcribed
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Some recent financial statements for Smolira Golf, Inc., follow 2015 2016 2015 2016 Liabilities and Owners' Equity Current assets Current liabilities s 2,228 2,750 2,266 122 $ 4.158 5,138 s2,761 2,557 Accounts payable 1,825 105 5,631 Notes payable Accounts receivable Inventory 4,692 2,778 632 Total $20,231 $ 21,820 Total $14,800 $17,560 Long-term debt Owners equity $45,500 45,500 15,729 40,207 $61,229 $ 85,707 $80,187 $108,405 Common stock and paid-in surplus Accumulated retained eamings Fixed assets Net plant and equipment Total assets Total $59,956 86,585 $80,187 $108,405 Total liabiliies and owners' equity Sales Cost of goods sold $190,370 27,703 5,183 EBIT Interest paid Taxable inoome 1,280 56,204 19,671 s 36,533 Net income Dividends Relained eamings 12,055 24,478 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate cale e.g.32.16. Enter the profitability ratios as a percent.) 2015 Short-term solvency ratio

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