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 $ 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 Long-term debt $ 13,000 $ 15,760 Owners equity Common stock and paid-in surplus $ 40,000 $ 40,000 Fixed assets Accumulated retained earnings 15,674 39,404 Net plant and equipment $ 52,315 $ 77,481 Total $ 55,674 $ 79,404 Total assets $ 72,711 $ 100,071 Total liabilities and owners equity $ 72,711 $ 100,071 SMOLIRA GOLF, INC. 2016 Income Statement Sales $ 188,170 Cost of goods sold 126,603 Depreciation 5,293 EBIT $ 56,274 Interest paid 1,390 Taxable income $ 54,884 Taxes 19,209 Net income $ 35,675 Dividends $ 11,945 Retained earnings 23,730 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent.)
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