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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 2014 2015
Some recent financial statements for Smolira Golf Corp. follow SMOLIRA GOLF CORP 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2014 2015 2015 Current assets Current liabilities Cash Accounts receivable Inventory $ 24,136 13,348 26,722 $25,000 16,100 28,000 Accounts payable Notes payable Other $ 24,084 19,000 12,471 $ 28,000 11.700 18,300 $ 64,206 $ 69,100 $ 55,555 $58,000 $ 78,000 Long-term debt Owners' equity $89,000 Common stock and paid-in surplus Accumulated retained earnings S 60,000 204,346 $60,000 226,000 Fixed assets Net plant and equipment 333,695$363,900 Total assets $264,346 $286,000 $397,901 $433,000 Total liabilities and owners' equity $397,901 $433,000 SMOLIRA GOLF CORP 2015 Income Statement Sales Cost of goods sold Depreciation $383,818 257,000 48.300 Earnings before interest and taxe Interest paid $ 78,518 15,200 Taxable income Taxes (20%) $63,318 12,664 Net income $ 50,654 Dividends Retained earnings $ 29,000 21,654 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.)
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