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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 Cash $ 24,136 $
SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets | ||||||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||||
2017 | 2018 | 2017 | 2018 | |||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 24,136 | $ | 25,000 | Accounts payable | $ | 24,084 | $ | 28,000 | |||||||
Accounts receivable | 13,348 | 16,100 | Notes payable | 19,000 | 11,700 | |||||||||||
Inventory | 26,722 | 28,000 | Other | 12,471 | 18,300 | |||||||||||
Total | $ | 64,206 | $ | 69,100 | Total | $ | 55,555 | $ | 58,000 | |||||||
Long-term debt | $ | 78,000 | $ | 91,532 | ||||||||||||
Owners equity | ||||||||||||||||
Common stock and paid-in surplus | $ | 60,000 | $ | 60,000 | ||||||||||||
Accumulated retained earnings | 204,346 | 223,468 | ||||||||||||||
Fixed assets | ||||||||||||||||
Net plant and equipment | $ | 333,695 | $ | 363,900 | Total | $ | 264,346 | $ | 283,468 | |||||||
Total assets | $ | 397,901 | $ | 433,000 | Total liabilities and owners equity | $ | 397,901 | $ | 433,000 | |||||||
SMOLIRA GOLF CORP. 2018 Income Statement | |||||||
Sales | $ | 383,818 | |||||
Cost of goods sold | 257,000 | ||||||
Depreciation | 48,300 | ||||||
Earnings before interest and taxes | $ | 78,518 | |||||
Interest paid | 15,200 | ||||||
Taxable income | $ | 63,318 | |||||
Taxes (24%) | 15,196 | ||||||
Net income | $ | 48,122 | |||||
Dividends | $ | 29,000 | |||||
Retained earnings | 19,122 |
The company's profit margin is ____ percent. (Use year-end figures rather than average values where appropriate and enter your answer as a percent rounded to 2 decimal places).
The total asset turnover is ____ times. (Round your answer to two decimal places).
The equity multiplier is _____ times. (Round your answer to two decimal places).
Using the DuPont Identity, the company's ROE is _____ percent. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places).
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