SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity Assets 2017 2018 2017 2018 Current assets Current liabilities Cash $ 34.385 $ 37.837 $36.722 $ 42.582 Accounts payable Notes payable Accounts receivable 17.801 27.766 19.00S 16.200 Inventory 36.310 42.632 Other 19.864 24.634 Total $ $9.496 $108.235 Total $_75.594 $ 83.416 $ 115.000 $145.000 Long-term debt Owners' equity Common stock and paid-in surplus $ 55.000 $ 55.000 Fixed assets 307.217 344.452 Accumulated retained earnings 464 315 519.633 Total S 362.217 $399,452 Net plant and equipment Total assets $552.811 $627.868 $ 552.811 $627.868 Total liabilities and owners' equity SMOLIRA GOLF CORP. 2018 Income Statement Sales $ 506.454 359.328 44.463 $ 102.663 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (25%) Net income 19.683 $ 82.980 20.745 $ 62,235 Dividends $ 25,000 Retained earnings 37,235 Calculating Financial Ratios [LO2] Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): Short-term solvency ratios: a. Current ratio. b. Quick ratio. c. Cash ratio. Asset utilization ratios: d. Total asset turnover. e. Inventory turnover. f. Receivables turnover. Long-term solvency ratios: g. Total debt ratio. h. Debt-equity ratio. Page 89 i. Equity multiplier j. Times interest carned ratio. k. Cash coverage ratio. Profitability ratios: 1. Profit margin 29. Market Value Ratios (LO2] Smolira Golf Corp. has 20,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2018 was $58. What is the price-earnings ratio? What are the dividends per share? What is the market-to-book ratio at the end of 2018? If the company's growth rate is 9 percent, what is the PEG ratio? SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity Assets 2017 2018 2017 2018 Current assets Current liabilities Cash $ 34.385 $ 37.837 $36.722 $ 42.582 Accounts payable Notes payable Accounts receivable 17.801 27.766 19.00S 16.200 Inventory 36.310 42.632 Other 19.864 24.634 Total $ $9.496 $108.235 Total $_75.594 $ 83.416 $ 115.000 $145.000 Long-term debt Owners' equity Common stock and paid-in surplus $ 55.000 $ 55.000 Fixed assets 307.217 344.452 Accumulated retained earnings 464 315 519.633 Total S 362.217 $399,452 Net plant and equipment Total assets $552.811 $627.868 $ 552.811 $627.868 Total liabilities and owners' equity SMOLIRA GOLF CORP. 2018 Income Statement Sales $ 506.454 359.328 44.463 $ 102.663 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (25%) Net income 19.683 $ 82.980 20.745 $ 62,235 Dividends $ 25,000 Retained earnings 37,235 Calculating Financial Ratios [LO2] Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): Short-term solvency ratios: a. Current ratio. b. Quick ratio. c. Cash ratio. Asset utilization ratios: d. Total asset turnover. e. Inventory turnover. f. Receivables turnover. Long-term solvency ratios: g. Total debt ratio. h. Debt-equity ratio. Page 89 i. Equity multiplier j. Times interest carned ratio. k. Cash coverage ratio. Profitability ratios: 1. Profit margin 29. Market Value Ratios (LO2] Smolira Golf Corp. has 20,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2018 was $58. What is the price-earnings ratio? What are the dividends per share? What is the market-to-book ratio at the end of 2018? If the company's growth rate is 9 percent, what is the PEG ratio