Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 $24,066 $24,300 12,648 15,400 25,642

Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 $24,066 $24,300 12,648 15,400 25,642 27,300 Fixed assets Net plant and equipment $326,695 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities $62,356 $ 67,000 $389,051 $ 362,000 $ 429,000 Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total 27 Total liabilities and owners' equity 0 2020 2021 $23,384 $27,300 13,000 11,000 11,771 16,700 $48,155 $55,000 $71,000 $83,103 $42,000 $ 42,000 227,896 248,897 $ $ 269,896 290,897 $389,051 $ 429,000
image text in transcribed
image text in transcribed
image text in transcribed
Some recent financial statements for Smolira Golf Corporation follow. Owners' equity Common stock and paid-in surplus $42,000$42,000 Accumulatedretainedearnings227,896248,897 Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate): (Enter the profitability ratio answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal pleces, e.g., 32.16.) \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Asset utilization ratios: } & \\ \hline d. Total asset turnover & 0.86 & times \\ \hline e. Inventory turnover & & times \\ \hline f. Receivables turnover & & times \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline 1 Times interest earned & & times \\ \hline k. Cash coverage ratio & & times \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Engineers Cost Handbook Tools For Managing Project Costs

Authors: Richard E. Westney

1st Edition

0824797965, 978-0824797966

More Books

Students also viewed these Finance questions

Question

What was your favorite part of your program? Least favorite?

Answered: 1 week ago

Question

understand the meaning of the terms discipline and grievance

Answered: 1 week ago