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 Cash Accounts receivable Current liabilities $2,791 $ 2,607 4,697 12,758 $20,246 21,890 $ 2,223 2,740 1,820 104 Accounts payable Notes payable Other 5,641 13,642 2,256 121 Inventory $ 4,147 5,117 $14,700 $ 17,460 Total Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total $45,000 45,000 15,724 $60,724 $85,134 40,134 Fixed assets $59,325$ 85,821 Net plant and equipment $79,571 $107,711 Total liabilities and owners' equity $79,571 $107,711 Total assets SMOLIRA GOLF, INC 2016 Income Statement $190,170 127,603 5,193 $ 57,374 1,290 $ 56,084 19,629 Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes $ 36,455 Net income $12,045 24,410 Dividends Retained earnings 2016 2015 Short-term solvency ratios 4.88 times a. Current ratio 4.28 times b. Quick ratio 1,81 times 1.61 times c. Cash ratio 0.67 times 0.51 times Asset utilization ratios d. Total asset turnover times e. Inventory turnover times f. Receivables turnoven times Long-term solvency ratios 0.24 times 0.21 times g. Total debt ratio 0.31 times 0.27 times h. Debt-equity ratio 1.27 times i. Equity multiplier 1.31 times j. Times interest earned ratio 44.48 times k. Cash coverage ratio 48.5 times Profitability ratios 19.17 % I. Profit margin m.Return on assets n. Return on equity