Question
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 $ 2,971 $ 2,907 Accounts payable $ 2,193 $ 2,680
Accounts receivable 4,727 5,701 Notes payable 1,790 2,196
Inventory 12,638 13,702 Other 98 115
Total $ 20,336 $ 22,310 Total $ 4,081 $ 4,991
Long-term debt $ 14,100 $ 16,860
Owners equity
Common stock and paid-in surplus $ 42,000 $ 42,000
Fixed assets Accumulated retained earnings 15,694 39,696
Net plant and equipment $ 55,539 $ 81,237 Total $ 57,694 $ 81,696
Total assets $ 75,875 $ 103,547 Total liabilities and owners equity $ 75,875 $ 103,547
SMOLIRA GOLF, INC.
2016 Income Statement
Sales $ 188,970
Cost of goods sold 127,003
Depreciation 5,253
EBIT $ 56,714
Interest paid 1,350
Taxable income $ 55,364
Taxes 19,377
Net income $ 35,987
Dividends $ 11,985
Retained earnings 24,002
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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