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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 profitability ratios as a percent.)
Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 Assets 2015 2016 Liabilities and Owners' Equity Current assets Current liabilities 3,251 3,407 2,143 2,580 Cash Accounts payable Accounts receivable 4,777 5,801 Notes payable 1,740 2,096 12,438 13,802 88 105 Inventory Other $20,466 $23,010 3,971 4,781 Tota Tota $13,600 $16,360 Long-term debt Owners' equity Common stock and paid-in surplus $37,000 $37,000 38,966 15,644 Fixed assets Accumulated retained earnings $49,749 $74,097 $52,644 $75,966 Net plant and equipment Tota $70,215 $97,107 Tota liabilities and owners' equity $70,215 $97,107 Total assets SMOLIRA GOLF, INC. 2016 Income Statement Sales $186,970 Cost of goods sold 126,003 5,353 Depreciation 55,614 EBIT 1,450 Interest paid 54,164 Taxable income 18,957 Taxes 35,207 Net income $11,885 Dividends 23,322 Retained earningsStep by Step Solution
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