Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets 2014 Liabilities and Owners' Equity 2014 2015 2015 Current assets Cash Accounts receivable Inventory $ 23,066 13.648 27.152 $ 25,300 16.400 28.300 Current liabilities Accounts payable Notes payable Other $ 24,384 14,000 12.771 $ 28,300 12.000 19,700 Total $ 63,866 $ 70,000 Total $ 60,000 $ 51,155 $ 81,000 $90,000 Cong-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 55,000 213406 $ 55,000 229.000 Fixed assets Net plant and equipment $336,695 $364.000 Total $268 406 $284,000 Total assets $400 561 $434.000 Total abilities and owners' equity $400,561 $434.000 SMOUIRA GOLF CORP 2015 Income Statement Sales Cost of goods sold Depreciation $333 705 215 200 49 300 Earnings before interest and lakes Interest pald $69.206 Taxable income Tres (30%) 553 706 16. 112 $ 37594 Dividends Retained earnings $ 22000 Find the following financial ratios for Smolira Golf Corp. (use year and figures rather than average values where appropriate (Enter your profitability ratio answers as a percent rounded to 2 decimal places - 37.16. Round the remaining answers to 2 decimal places, e.g. 32.16.) b Short term solvency ratios a. Current ratio ulck ratio Cash ratio Dividends Retained earings $ 22,000 15 594 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... 32.16.) 2014 2015 times times Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio imes times times times Asset utilization ratios d. Total asset turnover e. Inventory tumover f. Receivables turnover times times times 2015 times Long term solvency ratios 9. Total debt ratio h. Debt-equity ratio L Equity multiplier times Times interest earned Cash coverage ratio Profitab i os Promargin m. Return on asets m. Return on equity Hints References Book & Resources