Some recent financial statements for Smolira Golf, Inc., follow. Current assets Cash Assets Accounts receivable. Inventory Total Fixed assets Net plant and equipment $58,694 Total assets Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 $ 2,821 $ 2,657 4,702 5,651 12,738 13,652 $20,261 $ 21,960 SMOLIRA GOLF, INC. 2016 Income Statement Dividends Retained earnings $ 85,057 $78,955 $107,017 $12,035 24,342 $189,970 127,503 5,203 $ 57,264 1,300 $ 55,964 19,587 $ 36,377 2015 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total $ 2,218 1,815 103 $4,136 $14,600 $44,500 15,719 $60,219 Total liabilities and owners' equity $78,955 2016 $ 2,730 2,246 120 $ 5,096 $ 17,360 $ 44,500 40,061 $ 84,561 $107,017 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 profitability ratios as a percent.) SMOLIRA GOLF, INC. 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income, Dividends Retained earnings $12,035 24,342 $189,970 127,503 5,203 $ 57,264 1,300 $ 55,964 19,587 $36,377 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 profitability ratios as a percent.) Short-term solvency ratios a. Current ratio b. Quick ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover Long-term solvency ratios 9. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio Profitability ratios 1. Profit margin n. Return on equity 2016 times times times times times times times times
