Answered step by step
Verified Expert Solution
Question
1 Approved Answer
solve all ratios SMOLIRA GOLF CORP. Balance Sheet as of December 31, 2011 ASSETS LIABILITIES & OWNER'S EQUITY Current Assets Rs. 710 Current Liabilities: Accounts
solve all ratios
SMOLIRA GOLF CORP. Balance Sheet as of December 31, 2011 ASSETS LIABILITIES & OWNER'S EQUITY Current Assets Rs. 710 Current Liabilities: Accounts Payable Rs 1215 2106 Receivable Inventory Total Notes Payable R$7798 TOCA 230 Rs.2, 163 Fixed Assets Net plant and Equipment Long-term debt Rs 4,190 Rs. 18.584 Owner's Equity Common Stock and pald-in surplus Retained Earnings Rs 10 000 Rs 10 029 Rs 20.029 Total Total Assets Rs.26,382 Total Rs.26.382 SMOLIRA GOLF CORP. Income Statement as on December 31, 2011 Sales Less: Cost of goods sold Rs.28.000 11.600 Depreciation 2,140 Earnings before interest and Rs. 14.260 Less: Interest paig 980 Taxable income Taxes (35%) Net Income Rs 13,280 4,648 Rs 8 632 Dividend Rs.4000 Addition to retained earnings 4632 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 ratios i. Equity multiplier j. Times interest earned ratio Profitability Ratios: I. Profit Margin m. Return on Assets n. Return on quityStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started