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 $ 24,066 $ 24,300 15,400 27,300 62,356 $ 67,000 $ 23,384$ 27,300 11,000 16,700 $ 48155 $55,000 $ 71,000 83,103 Accounts payable Notes payable Other 12,648 13,000 receivable Inventory 25,642 11,771 Total Total Long-term debt Owners' equity Common stock and paid-in $42,000 42,000 surplus Accumulated retained 227,896 248,897 earnings Fixed assets Net plant and $326,695 $362,000 Total $269,896 $290,897 equipment Total liabilities and owners' equity Total assets 389,051 $429,000 389,051 $429,000 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreciation $369,630 253,500 46,500 Earnings before interest $ 69,630 14,500 and taxes Interest paid Taxable income Taxes (22%) $ 55,130 12,129 Net income $ 43,001 Dividends Retained earnings $22,000 21,001 Asset utilization ratios: d. Total asset turnover e. Inventory turnover f.Receivables turnover times times times Long-term solvency ratios g. Total debt ratio h. Debt-equity ratico i. Equity multiplier 2017 2018 times times times times times times Times interest earned times k. Cash coverage ratio times Profitability ratios I Profit margin m. Return on assets n Return on equity