1. SMOLIRA GOLF, INC

Balance Sheets as of December 31, 2017 and 2018 ($)

	2017	2018		2017	2018
Assets			Liabilities
Current Assets			Current Liabilities
Cash	7,500	8,200	Accounts Payable	6,347	7.118
Accounts Receivable	8,000	9,217	Notes Payable	2,178	3,579
Inventory	20,578	22,567	Other	124	189
Total	36,078	39,984	Total	8,649	10,886
Fixed Assets			Long term Debt	26,500	18,000
Net plant and equipment	87,035	122,345	Owners equity
			Common stock and Paid-in-surplus	30,000	30,000
			Accumulated Retained Earnings	57,964	103,443
			Total	87.964	133,443
TOTAL ASSETS	123,113	162,329	TOTAL LIABILITIES AND OWNERS EQUITY	123,113	162,329

SMOLIRA GOLF, INC

2018 INCOME STATEMENT

SALES	375,786
Cost of Goods Sold	(200,743)
Depreciation	(8,910)
EBIT	166,133
Interest paid	(2,115)
Taxable Income	164,018
Taxes	(55,766)
Net Income	108,252

Dividends: $ 62,773

Additions to Net Income: $ 45,479

Calculate the following financial ratios for Smolira Golf, for the 2018 year. (Use year-end figures rather than average values where appropriate). (28 POINTS)

Current Ratio
Quick Ratio
Cash Ratio
Total Asset Turnover
Inventory Turnover
Receivables Turnover
Total Debt Ratio
Debt-equity Ratio
Equity Multiplier
Times interest earned ratio
Cash coverage ratio
Profit margin
Return on Assets
Return of equity