Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory Total $ 24,246 14,448 27,992 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 26,100 Accounts payable $ 25,184 17,200 Notes payable 20,000 29,100 Other 13,571 $ 72,400 Total $ 58,755 Long-term debt $ 89,000 Owners' equity Common stock and paid-in S 50,000 surplus Accumulated retained earnings 213,626 $ 29,100 12,800 18,100 $ 60,000 $ 66,686 $ 103,648 $ 50,000 223,352 Fixed assets Net plant and equipment $344.695 $364.600 Total $263.626 $ 273,352 Total assets $ 411,381 $ 437.000 Total liabilities and owners' equity $ 411,381 $437.000 $360,968 262,500 29,200 SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (25) Net income $ 69,268 16,300 $ 52,968 13.242 $ 39,726 Dividends Retained earnings $30,000 9,726 2017 0.36 2018 0.37 Long-term solvency ratios: 9. Total debt ratio h. Debt-equity ratio Equity multiplier times times times times times times i. j Times interest earned k. Cash coverage ratio times times % Profitability ratios: 1. Profit margin m. Return on assets Return on equity % n. %