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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
Cash $ 24,106 $ 24,700 Accounts payable $ 23,784 $ 27,700
Accounts receivable 13,048 15,800 Notes payable 16,000 11,400
Inventory 26,342 27,700 Other 12,171 15,900
Total $ 63,496 $ 68,200 Total $ 51,955 $ 55,000
Long-term debt $ 75,000 $ 90,000
Owners equity
Common stock and paid-in surplus $ 45,000 $ 45,000
Accumulated retained earnings 222,236 242,000
Fixed assets
Net plant and equipment $ 330,695 $ 363,800 Total $ 267,236 $ 287,000
Total assets $ 394,191 $ 432,000 Total liabilities and owners equity $ 394,191 $ 432,000

SMOLIRA GOLF CORP. 2015 Income Statement
Sales $ 367,234
Cost of goods sold 235,500
Depreciation 38,600
Earnings before interest and taxes $ 93,134
Interest paid 14,900
Taxable income $ 78,234
Taxes (30%) 23,470
Net income $ 54,764
Dividends $ 35,000
Retained earnings 19,764

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 times times
b. Quick ratio times times
c. Cash ratio times times

Asset utilization ratios:
d. Total asset turnover times
e. Inventory turnover times
f. Receivables turnover times

Long-term solvency ratios: 2014 2015
g. Total debt ratio times times
h. Debtequity ratio times times
i. Equity multiplier times times

j. Times interest earned times
k. Cash coverage ratio times

Profitability ratios:
I. Profit margin %
m. Return on assets %
n. Return on equity %

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