Some recent financial statements for Smolira Golf, Inc., follow. Current assets Cash Accounts receivable Inventory SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current liabilities $ 2,791 $ 2,607 Accounts payable $ 2,223 $ 2,740 4,697 5,641 Notes payable 1,820 2,256 12,758 13,642 Other 104 121 Total $20,246 $21,890 Total $ 4,147 $ 5,117 $ 14,700 $ 17,460 Long-term debt Owners' equity Common stock $45,000 $45,000 and paid-in surplus Accumulated retained earnings Fixed assets 15,724 40,134 Net plant and equipment $59,325 $85,821 Total $ 60,724 $ 85,134 $ 79,571 $ 107,711 owners' equity Total liabilities and Total assets 107,711 $ 79,571 $ SMOLIRA GOLF, INC. 2019 Income Statement 190,170 Sales 127,603 Cost of goods sold Depreciation 5,193 EBIT 57,374 $ Interest paid 1,290 Taxable income $ 56,084 19,629 Taxes 36,455 Net income Dividends 12,045 $ Retained earnings 24,410 Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover times times times