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Some recent financial statements for Smolira Golf, Inc., follow. 2016 Assets Current assets Cash Accounts receivable Inventory Total 5,631 SMOLIRA GOLF, INC. Balance Sheets as

Some recent financial statements for Smolira Golf, Inc., follow.

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2016 Assets Current assets Cash Accounts receivable Inventory Total 5,631 SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 Liabilities and Owners' Equity Current liabilities $ 2,761 $ 2,557 Accounts payable $ 2,228 4,692 Notes payable 1,825 12,778 13,632 Other 105 $20,231 $ 21,820 Total $ 4,158 Long-term debt $ 14,800 Owners' equity Common stock and paid-in surplus $45,500 Accumulated retained earnings 15.729 $59,956 $ 86,585 Total $61,229 $80,187 $ 108,405 Total liabilities and owners' equity $80, 187 $ 2,750 2.266 122 $ 5,138 $ 17,560 Fixed assets Net plant and equipment Total assets $ 45,500 40,207 $ 85,707 $ 108,405 SMOLIRA GOLF, INC. 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes $190,370 127,703 5,183 $ 57,484 1,280 $ 56,204 19,671 $ 36,533 Net income Dividends Retained earnings $12,055 24,478 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places 2015 2016 times times Itimes times times times times times times Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio k. Cash coverage ratio Profitability ratios I. Profit margin m.Return on assets n. Return on equity times times Itimes times times times times times % % 1%

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