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SMOLIRA GOLF INC Elance Sheets of December 31, 2018 and 2039 2018 2019 2019 Assets Current assets Cash Accounts receivable Inventory Total $ 5,298 7,707 12 150 $ 25,155 5,827 8,477 21,956 $ 36,260 2018 Liabilities and Owners' Equity Current liabilities Accounts payable $ 3,754 Notes payable 3,045 Other 152 Total $ 6,951 Long-term debt $ 24,700 Owners' equity Common stock and paid in surplus $ 40,000 Accumulated retained earnings 28,805 Total $ 68,805 Total liabilities and owners' equity $100.456 $ 3,986 3,318 179 $ 7,483 $ 16,000 Fixed assets Net plant and equipment $ 75,301 Total assets $100,456 $ 79,412 $115,672 $ 37,000 55.189 $ 92,189 $115,672 SMOLIRA GOLF, INC. 2019 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Tacos Net income Dividends Addition to retained earnings $229,854 184,317 8,730 $36,807 1.811 $ 34,996 7349 $ 27.647 $10,000 11.647 LOZ 35. Calculating Financial Ratlou Find the following financial ratios for Smolira Golf (use yearend figures rather than average values where appropriate); Short-term solvency ratios 4. Current ratio 2. Quick ratio Cash ratio Asset tilization ratios 2 Total asset turnover & Inventory turnover . Receivables turnover Long-term solvency ratios 8. Total debt ratio h. Debt-equity ratio Equity multiplier 4. Times interest earned ratio k Cash coverage ratio CHAPTER) Working with Financial Sthtemerits 91 Profitability ratios Profit margin M Return on assets Return on equity