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Some recent financial statements for Smolira Golf Corporation follow. Assets: 2020 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Current assets Liabilities and

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Some recent financial statements for Smolira Golf Corporation follow. Assets: 2020 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Current assets Liabilities and Owners' Equity Current liabilities Cash $ 23,066 $25,300 Accounts receivable Inventory 13,648 16,400 27,152 28,300 Accounts payable Notes payable Other Total $ 63,866 $70,000 Total Long-term debt Fixed assets Owners' equity Common stock and paid-in surplus Accumulated retained earnings 2020 2021 $24,384 $28,300 14,000 12,000 12,771 19,700 $51,155 $ 60,000 $ 81,000 $ 85,703 $ 55,000 $55,000 213,406 233,297 $ 268,406 288,297 Net plant and equipment $336,695 Total 364,000 $ Total assets $ 400,561 $434,000 Total liabilities and owners' equity $ 400,561 434,000 Sales SMOLIRA GOLF CORPORATION 2021 Income Statement Cost of goods sold $ 333,706 215 200 10 points Sales SMOLIRA GOLF CORPORATION 2021 Income Statement Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (22%) Net income Dividends Retained earnings $ 333,706 215,200 49,300 $ 69,206 15,500 $ 53,706 11,815 $41,891 $22,000 19,891 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.) Times interest earned times k. Cash coverage ratio times Profitability ratios: 1. Profit margin m. Return on assets n. Return on equity % % %

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