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 $ 3,091 $ 3,107 Accounts payable $ 2,173 $ 2,640 Accounts receivable 4.747 5,741 Notes payable 1,770 2,156 Inventory 12.558 13,742 Other 94 111 Total $20,396 $22,590 Total $ 4,037 $ 4,907 $ 13,000 $15,760 Long-term debt Owners' equity Common stock 40,000 $40,000 $ and paid-in surplus Accumulated retained earnings 39,404 Fixed assets 15,674 Net plant and equipment $ 52,315 $ 77,481 Total 79,404 $ 55,674 $ Total assets $ 72,711 $100,071 Total liabilities and owners' equity 100,071 $ 72.711 $ SMOLIRA GOLF, INC. 2019 Income Statement Sales $188,170 126,603 Cost of goods sold Depreciation 5,293 EBIT Interest paid $ 56,274 1,390 Taxable income Taxes $54,884 19,209 Net income $ 35,675 Dividends Retained earnings $ 11,945 23,730 i. times times Equity multiplier Times interest earned ratio j. times times k. Cash coverage ratio Profitability ratios 1. Profit margin m. Return on assets % % n. Return on equity %