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Some recent financial statements for Earl Grey Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory Total $ 24, 046 12, 448
Some recent financial statements for Earl Grey Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory Total $ 24, 046 12, 448 25, 392 $ 61,886 EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Liabilities and Owners' Equity 2018 2017 Current liabilities $ 24, 255 Accounts payable $ 23, 184 15, 235 Notes payable 12,000 27, 155 Other 11, 571 $ 66, 645 Total $ 46, 755 Long-term debt $ 80,000 Owners' equity $365, 734 Common stock and paid-in surplus $ 40,000 Retained earnings 219, 826 Total $259, 826 $432, 379 Total liabilities and owners' equity $386, 581 $ 27, 420 10, 800 15, 553 $ 53, 773 $ 95,000 Fixed assets Net plant and equipment $324, 695 $ 40,000 243, 606 $283, 606 $432, 379 Total assets $386, 581 EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income Sales Cost of goods sold Depreciation Earnings before interest and tax Interest paid Taxable income Taxes (35%) Net income Dividends $ 20,000 Additions to retained earnings 23, 780 $ 366, 996 253, 122 32, 220 $ 81, 654 14, 300 $ 67, 354 23, 574 $ 43, 780 The company's profit margin is percent. (Use year-end figures rather than average values where appropriate. Do not include the percent sign (%). Round the final answer to 2 decimal places.) Total asset turnover is times. (Round the final answer to 3 decimal places.) Equity multiplier is (Round the final answer to 2 decimal places.) Using the Du Pont Identity, the company's ROE is percent. (Do not include the percent sign (%). Round the final answer to 2 decimal places.)
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