Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Cash Current liabilities Accounts receivable Inventory $ 5,298 $ 5,827 7,707 12,150 Accounts payable $ 3,754 $ 3,986 8,477 Notes payable 21,956 Other Total $ 25,155 $ 36,260 Total 3,045 152 3,318 179 $ 6,951 $ 7,483 Fixed assets Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 24,700 $ 16,000 $ 40,000 $ 37,000 28,805 55,189 Net plant and $ 75,301 $ 79,412 Total equipment Total assets $100,456 $ 115,672 SMOLIRA GOLF, INC. 2019 Income Statement Sales Cost of goods sold Depreciation $ 229,854 184,317 8,730 Total liabilities and owners' equity $ 68,805 $92,189 $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 Interest paid 1,811 ook Taxable income 34,996 Taxes 7,349 rint Net income 27,647 rences 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.) 2018 2019 Short-term solvency ratios a. Current ratio times times b. Quick ratio times times c. Cash ratio times times Asset utilization ratios 14 points 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.) eBook 2018 Short-term solvency ratios a. Current ratio Print b. Quick ratio c. Cash ratio References Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio 2019 times times times times times times times times times times h. Debt-equity ratio times i. Equity multiplier times j Times interest earned ratio times k. Cash coverage ratio times Profitability ratios 1. Profit margin m. Return on assets n. Return on equity % % %