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Some recent financial statements for Smolira Golf Corp follow. SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2015 2014
Some recent financial statements for Smolira Golf Corp follow. SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current assets Current liabilities 24,284 Cash 23,056 25,200 Accounts payable 28,200 13,548 Accounts receivable 16.300 Notes payable 3,000 900 26,982 28,200 Othe 2,671 19,900 nventory Total 63,586 69,700 Total 49,955 60,000 Long-term debt 80,000 92,000 owners' equity Common stock and paid-in surplus 60,000 60,000 Accumulated retained earnings 209,326 222,000 Fixed assets Net plant and equipment $335,695 $364,300 Total $269,326 $282,000 Total assets $399.28 $434,000 Total liabilities and owners' equity $399.28 $434,000 SMOLIRA GOLF CORP. 2015 Income Statement Sales $375.123 Cost of goods sold 258.000 Depreciation 45.600 Earnings before interest and taxes 71.523 nterest paid 5.400 Taxable income 56.123 Taxes (40%) 22.449 Net income 33,674 Dividends 21,000 Retained eamings 2,674 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.) Short-term solvency ratios 2014 2015 a. Current ratio mes b. Quick ratio times. c. Cash ratio times sset utilization ratios d. Total asset turnover e. Inventory turnover Receivables tumover Long-term solvency ratios 2015
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