SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2019 2018 2018 2019 Liabilities and Owners' Equity Assets Current liabilities Current assets $ 3,031 $ 3,007 4,737 12,598 $ 2,183 $ 2,660 1,780 2,176 Accounts payable Notes payable Cash Accounts receivable 5,721 13,722 Inventory Other 96 113 $ 4,059 $ 4,949 $20,366 $22,450 Total Total Long-term debt Owners' equity $ 13,900 $16,660 Common stock $ 41,000 $41,000 and paid-in surplus Accumulated retained 39,550 Fixed assets 15,684 earnings Net plant and equipment 80,550 $54,277 $ 79,709 $56,684 $ Total 102,159 Total liabilities and owners' $74,643 $102,159 $74,643 $ Total assets equity SMOLIRA GOLF, INC. 2019 Income Statement 188,570 2$ Sales 126,803 Cost of goods sold Depreciation 5,273 $56,494 1,370 EBIT Interest paid $ 55,124 19,293 Taxable income Taxes $ 35,831 Net income $ 11,965 23,866 Dividends Retained earnings Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent.) 2019 2018 Short-term solvency ratios Current ratio times times a. times b. Quick ratio times Cash ratio times times c. Asset utilization ratios d. Total asset turnover times Inventory turnover times e. f. Receivables turnover times Long-term solvency ratios Total debt ratio times times g. Debt-equity ratio h. times times i. Equity multiplier times times Times interest earned ratio j. times k. Cash coverage ratio times Profitability ratios Profit margin % m. Return on assets n. Return on equity