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Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016
Some recent financial statements for Smolira Golf, Inc., follow.
SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 | ||||||||||||||||
2015 | 2016 | 2015 | 2016 | |||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 3,231 | $ | 3,357 | Accounts payable | $ | 2,148 | $ | 2,590 | |||||||
Accounts receivable | 4,772 | 5,791 | Notes payable | 1,745 | 2,106 | |||||||||||
Inventory | 12,458 | 13,792 | Other | 89 | 106 | |||||||||||
Total | $ | 20,461 | $ | 22,940 | Total | $ | 3,982 | $ | 4,802 | |||||||
Long-term debt | $ | 13,500 | $ | 16,260 | ||||||||||||
Owners equity | ||||||||||||||||
Common stock and paid-in surplus | $ | 37,500 | $ | 37,500 | ||||||||||||
Fixed assets | Accumulated retained earnings | 15,649 | 39,039 | |||||||||||||
Net plant and equipment | $ | 50,170 | $ | 74,661 | Total | $ | 53,149 | $ | 76,539 | |||||||
Total assets | $ | 70,631 | $ | 97,601 | Total liabilities and owners equity | $ | 70,631 | $ | 97,601 | |||||||
SMOLIRA GOLF, INC. 2016 Income Statement | |||||
Sales | $ | 187,170 | |||
Cost of goods sold | 126,103 | ||||
Depreciation | 5,343 | ||||
EBIT | $ | 55,724 | |||
Interest paid | 1,440 | ||||
Taxable income | $ | 54,284 | |||
Taxes | 18,999 | ||||
Net income | $ | 35,285 | |||
Dividends | $ | 11,895 | |||
Retained earnings | 23,390 | ||||
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 | |
Equity multiplier | times | |
Return on equity | % | |
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