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* SOME ANSWERS ARE WRONG!! I need help solving the total asset turnover, inventory turnover, receivables turnover, cash coverage ratio, return on assets, and return

image text in transcribedimage text in transcribed* SOME ANSWERS ARE WRONG!! I need help solving the total asset turnover, inventory turnover, receivables turnover, cash coverage ratio, return on assets, and return on equity. The original answers I put for the inventory turnover and receivables turnover were 9.67 and 36.88. Those were both wrong as well.

Your help is much appreciated!! Thank you

Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash Accounts receivable Inventory S 2,761 2,557 5,631 13,632 $20,231 21.820 Accounts payable Notes payable Other 2,228 2,750 2,266 122 4,692 12,778 1,825 105 4,158 S 5,138 $14,800 17,560 Total Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $45,500 45,500 40,207 Fixed assets 15,729 Net plant and equipment Total assets S59,956 86,585 S80,187 $108,405 Tiabilities and owners' equity 61.229 85,707 $80,187 $108,405 Total SMOLIRA GOLF, INC 2016 Income Statement Sales Cost of goods sold $190,370 127,703 5,183 $ 57,484 1,280 $ 56,204 EBIT Interest paid Taxable income Taxes Net income $36,533 Dividends Retained earnings $12,055 24,478 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.) 2015 2016 Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio 4.86 times 1.79 times 66 times 4.25 times 1.59 times 5 times Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover 2.02 times 14.42 times 36.88 times Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio k. Cash coverage ratio 24 times 31 times 1.31 times 21 times 26 times 1.26 times 44.91 times 48.96 times Profitability ratios I. Profit margin m.Return on assets n. Return on equity 19.19 33.70 42.63

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