Some recent financial statements for Smolira Golf Corporation follow. Assets SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2020 Current assets Cash $23,056 $25,200 Accounts receivable Inventory 13,548 16,300 26,982 28,200 Other $ 63,586 $69,700 Total Long-term debt Total Owners' equity Common stock and paid-in surplus Accumulated retained earnings 2020 2021 $ 24,284 $28,200 13,000 11,900 12,671 19,900 $ 49,955 $ 60,000 $80,000 $81,337 $ 60,000 $60,000 209,326 232,663 Fixed assets Net plant and equipment $335,695 Total $ 269,326 364,300 292,663 $ Total assets $ 399,281 $434,000 Total liabilities and owners' equity $ 399,281 434,000 Sales SMOLIRA GOLF CORPORATION 2021 Income Statement Cost of goods sold Depreciation Earnings before interest and taxes Interest paid $ 375,123 258,000 45,600 $ 71,523 15,400 Sales SMOLIRA GOLF CORPORATION 2021 Income Statement Cost of goods sold $375,123 258,000 Depreciation 45,600 Earnings before interest and $ 71,523 taxes Interest paid Taxable income Taxes (21%) 15,400 $ 56,123 11,786 Net income Dividends Retained earnings $44,337 $ 21,000 23,337 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: 2020 2021 a. Current ratio 1.27 times 1.16 times b. Quick ratio 0.73 times 0.69 times c. Cash ratio 0.46 times 0.42 times Asset Utilization ratios: d. Total asset turnover e. Inventory turnover 0.86 times 9.14 times f. Receivables turnover 23.00 times Long-term solvency ratios: 2020 2021 g. Total debt ratio h. Debt-equity ratio i. Equity multiplier times times times times times times j. Times interest earned times k. Cash coverage ratio times. Profitability ratios: 1. Profit margin % m. Return on assets % n. Return on equity % < Prev 10 of 13