Some recent financial statements for Smolira Golf Corp. follow SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash Accounts 23,066$ 25,300 16,400 28,300 63,866$ 70,000 $ 24,384 $ 28,300 12,000 19,700 $51,155 60,000 $ 81,000 $85,703 Accounts payable Notes payable Other 13,648 14,000 receivable Inventory 27152 12,771 Total Total Long-term debt Owners' equity Common stock and paid-in $ 55,000 55,000 surplus Accumulated retaineg 213,406 233,297 earnings Fixed assets Net plant and $336,695 $364,000 Total $268,406 $288,297 equipment Total liabilities and owners' Total assets 400,561 $434,000 $400,561 $434,000 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreciation $333,706 215,200 49,300 Earnings before interest $ 69,206 and taxes Interest paid 15,500 Taxable income Taxes (22%) 53,706 11,815 Net income $ 41,891 Dividends Retained earnings $22,000 19,891 ind 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 ounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) Answer is complete and correct 2017 2018 Short-term solvency ratios: a Current ratio b. Quick ratio c. Cash ratio 1.25 times 0.72times 0.45 times 1.17 times 0.70 times 0.42 times Answer is not complete. Asset utilization ratios: d. Total asset turnover e. | Inventory turnover times times times Receivables turnover 2017 2018 Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier times times times times times times i. Times interest earned times k. Cash coverage ratio times Profitability ratios: l. Profit margin m. Return on assets n. Return on equity 0 0 0 0 0 0