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Some recent financial statements for Earl Grey Golf Corp. follow. Assets 2018 Current assets Cash Accounts receivable Inventory Total EARL GREY GOLF CORP. 2017 and
Some recent financial statements for Earl Grey Golf Corp. follow. Assets 2018 Current assets Cash Accounts receivable Inventory Total EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Liabilities and Owners' Equity 2017 2018 2017 Current liabilities $ 24,046 $ 24, 255 Accounts payable $ 23,184 12,448 15,235 Notes payable 12,000 25,392 27, 155 Other 11,571 $ 61,886 $ 66,645 Total $ 46,755 Long-term debt $ 80,000 Owners' equity $324,695 $365, 734 Common stock and paid-in surplus $ 40,000 Retained earnings 219,826 Total $ 259,826 $386,581 $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 $ 40,000 243,606 $283, 606 $432,379 Total assets 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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