SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 24,066 $ 24,300 15,400 27,300 62,356 $ 67,000 $ 23,384$ 27,300 11,000 16,700 $ 48155 $55,000 $71,000 $83,103 Cash Accounts Accounts payable Notes payable Other 12,648 13,000 receivable Inventory 25,642 11,771 Total Total Long-term debt Owners' equity Common stock and paid-in 42,000 42,000 surplus Accumulated retained 227,896 248,897 earnings Fixed assets Net plant and 326,695 $362,000 Total $269,896 $290,897 equipment Total liabilities and owners' equity Total assets 389,051 $429,000 389,051 $429,000 2018 Income Statement Sales Cost of goods sold Depreciation $369,630 253,500 46,500 Earnings before interest $ 69,630 14,500 and taxes Interest paid Taxable income Taxes (22%) $ 55,130 12,129 Net income $ 43,001 Dividends Retained earnings $22,000 21,001 Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): (Enter your profitability ratio answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio 2017 2018 times times times times times times