Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF 2011 and 2012 Balance Sheets Assets Liabilities and Owners Equity 2011 2012 2011 2012
Some recent financial statements for Smolira Golf Corp. follow. |
SMOLIRA GOLF 2011 and 2012 Balance Sheets | ||||||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||||
2011 | 2012 | 2011 | 2012 | |||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 24,046 | $ | 24,255 | Accounts payable | $ | 23,184 | $ | 27,420 | |||||||
Accounts receivable | 12,448 | 15,235 | Notes payable | 12,000 | 10,800 | |||||||||||
Inventory | 25,392 | 27,155 | Other | 11,571 | 15,553 | |||||||||||
Total | $ | 61,886 | $ | 66,645 | Total | $ | 46,755 | $ | 53,773 | |||||||
Long-term debt | $ | 80,000 | $ | 95,000 | ||||||||||||
Owners equity | ||||||||||||||||
Common stock and paid-in surplus | $ | 40,000 | $ | 40,000 | ||||||||||||
Accumulated retained earnings | 219,826 | 243,606 | ||||||||||||||
Fixed assets | ||||||||||||||||
Net plant and equipment | $ | 324,695 | $ | 365,734 | Total | $ | 259,826 | $ | 283,606 | |||||||
Total assets | $ | 386,581 | $ | 432,379 | Total liabilities and owners equity | $ | 386,581 | $ | 432,379 | |||||||
SMOLIRA GOLF, INC. 2012 Income Statement | |||||||
Sales | $ | 366,996 | |||||
Cost of goods sold | 253,122 | ||||||
Depreciation | 32,220 | ||||||
Earnings before interest and taxes | $ | 81,654 | |||||
Interest paid | 14,300 | ||||||
Taxable income | $ | 67,354 | |||||
Taxes (35%) | 23,574 | ||||||
Net income | $ | 43,780 | |||||
Dividends | $ | 20,000 | |||||
Retained earnings | 23,780 | ||||||
The company's profit margin is___________ percent. (Use year-end figures rather than average values where appropriate.Round your answer to 2 decimal places. Total asset turnover is ________________. (Round your answer to 2 decimal places Equity multiplier is_________ . (Round your answer to 2 decimal places. Using the Du Pont Identity, the company's ROE is_________ percent.Round your answer to 2 decimal places. (e.g., 32.16))
Thanks! :) |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started