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SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities
SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2,791 $ 2,607 Accounts payable $ 2,223 $ 2,740 Accounts receivable 4,697 5,641 Notes payable 1,820 2,256 Inventory 12,758 13,642 Other 104 121 Total $20,246 $21,890 Total $ 4,147 $ 5,117 $ 14,700 $ 17,460 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $45,000 $ 45,000 Fixed assets 15,724 40,134 Net plant and equipment $59,325 $85,821 Total $ 60,724 $ 85,134 Total assets $ 79,571 $ 107,711 Total liabilities and owners' equity $ 79,571 $ 107,711 SMOLIRA GOLF, INC. 2019 Income Statement Sales $190,170 127,603 Cost of goods sold Depreciation 5,193 EBIT Interest paid $ 57,374 1,290 Taxable income Taxes $56,084 19,629 Net income $36,455 Dividends Retained earnings $ 12,045 24,410 times times times times i. Equity multiplier j. Times interest earned ratio k. Cash coverage ratio Profitability ratios I. Profit margin m. Return on assets % % n. Return on equity %
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