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Some recent financial statements for Smolira Golf, Inc., follow. Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where
Some recent financial statements for Smolira Golf, Inc., follow. |
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.) |
SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 5,298 $ 5,827 Accounts payable $ 3,754 $ 3,986 Accounts receivable 7,707 8,477 Notes payable 3,045 3,318 Inventory 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 Fixed assets 28,805 55,189 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 Interest paid 36,807 1,811 $ Taxable income Taxes 34,996 7,349 Net income $ 27,647 Dividends Retained earnings $ 16,000 11,647 2018 2019 Short-term solvency ratios a. Current ratio times times b. Quick ratio times times c. Cash ratio times times Asset utilization ratios d. Total asset turnover times times times 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 times times times times times k. Cash coverage ratio Profitability ratios 1. Profit margin % m. Return on assets % n. Return on equity %
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