SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets
Assets									Liabilities and Owners Equity
	2017				2018					2017				2018
Current assets									Current liabilities
Cash	$	24,226			$	25,900			Accounts payable	$	24,984			$	28,900
Accounts receivable		14,248				17,000			Notes payable		17,000				12,600
Inventory		27,802				28,900			Other		13,371				17,500
Total	$	66,276			$	71,800			Total	$	55,355			$	59,000
									Long-term debt	$	124,000			$	127,662
									Owners equity
									Common stock and paid-in surplus	$	60,000			$	60,000
									Accumulated retained earnings		169,616				189,338
Fixed assets
Net plant and equipment	$	342,695			$	364,200			Total	$	229,616			$	249,338
Total assets	$	408,971			$	436,000			Total liabilities and owners equity	$	408,971			$	436,000

SMOLIRA GOLF CORP. 2018 Income Statement
Sales					$	390,477
Cost of goods sold						261,500
Depreciation						50,900
Earnings before interest and taxes					$	78,077
Interest paid						16,100
Taxable income					$	61,977
Taxes (23%)						14,255
Net income					$	47,722
Dividends	$	28,000
Retained earnings		19,722

times 1. Times interest earned k. Cash coverage ratio times Profitability ratios: I. Profit margin m. Return on assets Return on equity % % n. % 2017 2018 a. Short-term solvency ratios: Current ratio b. Quick ratio Cash ratio times times times times times times C. Asset utilization ratios: d. Total asset turnover Inventory turnover f. Receivables turnover e. times times times 2017 2018 Long-term solvency ratios: 9. Total debt ratio h. Debt-equity ratio i. Equity multiplier times times times times times times