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 $ 2,941 $ 2,857 Accounts payable $ 2,198 $ 2,690 Accounts receivable 4,722 5,691 Notes payable 1,795 2,206 Inventory 12,658 13,692 Other 99116 Total $20,321 $22,240 Total $ 4,092 $ 5,012 $ 14,200 $16,960 Long-term debt Owners' equity Common stock and paid-in surplus $42,500 $ 42,500 Fixed assets Accumulated retained earnings 15,699 39,769 Net plant and equipment $56,170 $ 82,001 Total $ 58,199 $ 82,269 Total assets $76,491 $104,241 Total liabilities and owners' equity $ 76,491 $ 104,241 SMOLIRA GOLF, INC. 2019 Income Statement Sales $189,170 Cost of goods sold 127,103 Depreciation 5,243 EBIT Interest paid $56,824 1,340 Taxable income Taxes $55,484 19,419 Net income $36,065 Dividends Retained earnings $ 11,995 24,070 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.) 2018 2019 times times times times times times times times times Short-term solvency ratios a. Current ratio b. Quick ratio C. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio Equity multiplier Times interest earned ratio Cash coverage ratio Profitability ratios Profit margin Return on assets Return on equity times times times times times times times times m