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Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORP. 2017 and 2018 Balance
Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 37,837 Accounts payable $ 36,722 $ 42,582 27,766 Notes payable 19,008 16,200 42,632 Other 19,864 24,634 $ 34,385 17,801 36,310 Total $ 88,496 $ 108,235 Total $ 75,594 $ 83,416 Long-term debt $ 115,000 $145,000 $ 55,000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 55,000 307,217 344,452 Net plant and equipment $464,315 $ 519,633 Total $362,217 $399,452 Total assets $ 552,811 $627,868 Total liabilities and owners' equity $ 552,811 $627,868 SMOLIRA GOLF CORP. 2018 Income Statement Sales $506,454 Cost of goods sold 359,328 Depreciation 44,463 Earnings before interest and taxes Interest paid $ 102,663 19,683 Taxable income Taxes (25%) $ 82,980 20,745 Net income $ 62,235 Dividends Retained earnings $25,000 37,235 X Answer is complete but not entirely correct. The company's profit 11.30% percent. (Use year-end figures rather than average values where appropriate. Enter your margin is answer as a percent rounded to 2 decimal places, e.g., Total asset turnover 32.16.) 0.88X (Round your answer to 2 decimal places, e.g., 32.16.) Equity 1.58 . (Round your answer to 2 decimal places., e.g., 32.16.) multiplier is Using the DuPont Identity, the company's (Enter your answer as a percent rounded to 2 decimal places, e.g. 14.82% percent ROE is 32.16.)
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