QUESTION 19.

Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC Balance Sheets as of December 31, 2015 and 2016 2015 2015 2016 2016 Liabilities and Owners' Equity Assets Current assets Cash Accounts receivable Current liabilities $ 2,640 2,156 111 $ 4,907 $15,760 $ 3,107 5,741 13,742 $ 22,590 Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $3,091 4,747 12,558 $20,396 2,173 1,770 94 Inventory Total $ 4,037 $13,000 $ 40,000 39,404 79,404 $40,000 15,674 $55,674 Fixed assets Net plant and equipment $52,315 $72,711 77,481 $100,071 Total $100,071 Total liabilities and owners' equity $72,711 Total assets SMOLIRA GOLF, INC 2016 Income Statement $188,170 126,603 5,293 $ 56,274 1,390 54,884 19,209 $ 35,675 Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income $11,945 23,730 Dividends Retained earnings Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent.) 2016 2015 Short-term solvency ratios times times times times a. Current ratio b. Quick ratio times times c. Cash ratio Asset utilization ratios times d. Total asset turnover Inventory turnover times e. times f. Receivables turnover Long-term solvency ratios g. Total debt ratio times times times times h. Debt-equity ratio i. Equity multiplier times times times j. Times interest eaned ratio times k. Cash coverage ratio Profitability ratios Profit margin m.Return on assets n. Return on equity