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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
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 Current liabilities Cash $ 2,791 $ 2,607 Accounts payable $ 2,223 $ 2,740 Accounts receivable 4,697 5,641 Notes payable 1,820 2,256 Inventory 12,758 13,642 Other 104 121 Total $20,246 $21,890 Total $ 4,147 $ 5,117 $ 14,700 $ 17,460 Long-term debt Owners' equity Common stock and paid-in surplus 45,000 $45,000 $ Fixed assets Accumulated retained earnings 15,724 40,134 Net plant and equipment $59,325 $85,821 Total $ 60,724 $ 85,134 Total assets $ 79,571 $ 107,711 Total liabilities and owners' equity $ 79,571 $ 107,711 SMOLIRA GOLF, INC. 2019 Income Statement Sales $190,170 127,603 Cost of goods sold Depreciation 5,193 EBIT Interest paid $ 57,374 1,290 Taxable income Taxes $56,084 19,629 Net income $36,455 Dividends 12,045 $ Retained earnings 24,410 Construct the DuPont identity for Smolira Golf. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent.) Profit margin % Total asset turnover times times Equity multiplier Return on equity %
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