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SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 24,106 24,700 15,800
SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 24,106 24,700 15,800 27,700 $63,496 $68,200 $ 23,784 27,700 11,400 15,900 Cash Accounts Accounts payable Notes payable Other 13,048 6,000 12,171 receivable Inventory 26,342 Total $ 51,955 $55,000 Total Long-term debt Owners' equity $ 75,00082,959 Common stock and paid-in 45,000 45,000 surplus Accumulated retained 222,236 249,041 earnings Fixed assets Net plant and $330,695 $363,800 Total $267,236 294,041 equipment Total liabilities and owners' equity Total assets 394,191 $432,000 394,191 $432,000 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreciation $367,234 235,500 38,600 Earnings before interest $ 93,134 14,900 and taxes Interest paid Taxable income Taxes (21%) $ 78,234 16,429 Net income $ 61,805 Dividends Retained earnings $35,000 26,805 The company's profit margin is percent rounded to 2 decimal places, e.g., 32.16.) The equity multiplier is percent. (Use year-end figures rather than average values where appropriate. Enter your answer as a The total asset turnover is times Round your answer to 2 decimal places, e.g., 32.16.) percent (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
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