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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
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 $ 5,298 $ 5,827 Accounts payable $ 3,754 $ 3,986 7,707 8,477 Notes payable 3,045 3,318 12.150 21,956 Other 152 179 Total $ 25,155 $ 36,260 Total $ 6,951 $ 7,483 $ 24,700 $ 16,000 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 40,000 $37,000 28,805 55,189 Fixed assets Net plant and equipment $ 75,301 $ 79,412 Total $ 68,805 $ 92,189 Total assets $100,456 $ 115,672 Total liabilities and owners' equity $100,456 $115,672 SMOLIRA GOLF, INC. 2019 Income Statement Sales $ 229,854 Cost of goods 184,317 sold Depreciation 8,730 EBIT $ 36,807 1,811 Interest paid Taxable income Taxes $ 34,996 7,349 Net income $ 27,647 Dividends Retained earnings $ 16,000 11,647 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, e.g., 32.16. Enter the profit margin, return on assets, and return on equity as a percent.) 0.32 times Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio times times times times k. Cash coverage ratio Profitability ratios 1. Profit margin 12.03% m. Return on assets 23.90% n. Return on equity 29.99%
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