SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash Accounts $ 24,216 $25,800 16,900 28,800 $66,086 $ 71,500 Accounts payable Notes payable Other $ 24,884 $ 28,800 12,500 16,700 $ 56,155 $ 58,000 14,148 18,000 receivable Inventory 27,722 13,271 Total Total Long-term debt Owners' equity $ 86,000 84,888 Common stock and paid-in 50,000 50,000 surplus Accumulated retained 215,626 241,112 earnings Fixed assets Net plant and 341,695 $362,500 Total $265,626291,112 equipment Total liabilities and owners equity Total assets $407,781 $434,000 $407,781 $434,000 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreciation $357,290 241,600 32,400 Earnings before interest $ 83,290 16,000 and taxes Interest paid Taxable income Taxes (22%) $ 67,290 14,804 Net income $ 52,486 Dividends Retained earnings $27,000 25,486 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 approprii The total asset turnover is times. (Round your Using the DuP (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal place times (Round your answer to 2 decimal places, e.g., 32.16.) percent. ures rather than average values where appropriate. Enter your answer as a nover i ecimal places, e.g., 32.16.) answer as a percent rounded to 2 decimal places, e.g., 32.16.) times. (Round your answer to 2 decimal places, e.g., 32.16.) Using the DuPont Identity, the company's ROE is