Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
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 $ 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 28,805 55,189 Fixed assets es 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 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 your profit margin and return on equity answers as a percent.) 12.03% times Profit margin Total asset turnover Equity multiplier Return on equity times 29.99 %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Innovation Commercialization And Start Ups In Life Sciences

Authors: James F. Jordan

1st Edition

1482210126, 978-1482210125

More Books

Students also viewed these Finance questions

Question

What is the relationship between language and meaning?

Answered: 1 week ago