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Some recent financial statements for Smolira Golf Corp. follow. Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values
Some recent financial statements for Smolira Golf Corp. follow. |
Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): (Enter your profitability ratio answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) |
Some recent financial statements for Smolira Golf Corp. follow. Assets 2014 2015 $ 24,066 SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Liabilities and Owners' Equity 2015 2014 Current liabilities $ 24,300 Accounts payable $ 23,384 15,400 Notes payable 13,000 27,300 Other 11,771 Current assets Cash Accounts receivable Inventory $ 27,300 11,000 12,648 25,642 16,700 Total $ 62,356 $ 67,000 Total $ 48,155 $ 55,000 $ 71,000 $ 82,000 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 42,000 $ 42,000 227,896 250,000 Fixed assets Net plant and equipment $326,695 $362,000 Total $269,896 $292,000 Total assets $ 389,051 $429,000 Total liabilities and owners' equity $ 389,051 $429,000 2014 2015 Short-term solvency ratios: a. Current ratio b. Quick ratio C. Cash ratio times times times times times times Asset utilization ratios: d. Total asset turnover e. Inventory turnover Receivables f. turnover times times times 2014 2015 Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier times times times times times times times Times interest earned Cash coverage k. 'ratio times SMOLIRA GOLF CORP. 2015 Income Statement Sales Cost of goods sold Depreciation $369,630 253,500 46,500 $ 69,630 Earnings before interest and taxes Interest paid 14,500 Taxable income Taxes (20%) $ 55,130 11,026 Net income $ 44,104 Dividends Retained earnings $22,000 22,104 Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): (Enter your profitability ratio answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) % Profitability ratios: 1. Profit margin Return on m. ' assets n. Return on equity % %
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