Some recent financial statements for Smolira Golf Corporation follow. Assets 2020 Current assets Cash Accounts receivable Inventory $ 24,126 13,248 26,542 $24,900 16,000 27,900 Other Total $ 63,916 $ 68,800 Total SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2020 2021 $ 23,984 $27,900 18,000 11,600 12,371 16,500 $ 54,355 $56,000 Long-term debt $77,000 $74,606 Owners' equity Common stock and paid-in surplus $ 50,000 $50,000 Accumulated retained earnings 215,256 250,394 Fixed assets Net plant and equipment $332,695 $ 362,200 $ $ Total 265,256 300,394 $ Total assets $ 396,611 $ 431,000 Total liabilities and owners' equity $ 396,611 431,000 Sales SMOLIRA GOLF CORPORATION 2021 Income Statement Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (23%) Net income Dividends $ 392,907 256,500 48,400 $ 88,007 15,100 $ 72,907 16,769 $ 56,138 $ 21,000 35,138 Retained earnings 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 places, e.g., 32.16.) Short-term solvency ratios: a. Current ratio 2020 b. Quick ratio c. Cash ratio 2021 1.18 times 1.23 times times times times times Asset utilization ratios: d. Total asset turnover times e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios: 2020 2021 g. Total debt ratio times times h. Debt-equity 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 % % %