Some recent financial statements for Smolira Golf Corporation follow. SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Liabilities and Owners' Equity 2020 2021 Current assets Current liabilities Cash $ 24,106 $ 24,700 Accounts payable $ 23,784 $27700 Accounts receivable 13,048 15,800 Notes payable 16,000 11,400 Inventory 26,342 27,700 Other 12,171 15,900 Total $ 63,496 $ 68,200 Total $51,955 $ 55,000 Long-term debt $ 75,000 $82,959 Owners' equity Common stock and pald-in surplus $ 45,000 $ 45,000 Accumulated retained earnings 222,236 249,041 Fixed assets $ Net plant and equipment $ 330,695 Total $ 267,236 363,800 294,041 $ $ Total assets $ 394,191 432,000 Total liabilities and owners' equity $ 394,191 432,000 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation $367,234 235,500 38,600 Earnings before interest and taxes Interest paid $ 93,134 14.900 Tavahin income 70 791 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation $ 367,234 235,500 38,600 Earnings before interest and taxes Interest paid $ 93,134 14,900 Taxable income Taxes (21%) $ 78,234 16,429 Net income $ 61,805 Dividends $ 35,000 Retained earnings 26,805 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.) 2020 2021 Short-term solvency ratios: a. Current ratio b. Quick ratio c. Cash ratio 1.24 times 0.74 times 1.22 times 0.72 times 0.45 times 0.46 times 0.85 times Asset utilization ratios: d. Total asset turnover e. Inventory turnover f. Receivables turnover times times 2021 times Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio 1. Equity multiplier 2020 times times times times 11.36 times Times interest earned k. Cash coverage ratio times times 13.81 % Profitability ratios: 1. Profit margin m. Return on assets n. Return on equity % 18.97%