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 Liabilities and Owners' Equity Current assets Current liabilities $ 3,031 $ 3,007 Cash Accounts receivable Inventory S 2,183 2,660 2,176 113 S 4,059 4,949 $13,900 16,660 Accounts payable Notes payable 4,737 12,598 5,721 13,722 1,780 96 22,450 $20.366 3 22*Long-term Total Owners' equity Common stock and paid-in surplus Accumulated retained earnings $41,000 S41,000 Fixed assets 15,684 Net plant and equipment Total assets 54,277 $74,643 79,709 $102,159 Total Total liabilities and owners' equity $56,684 S 80,550 $74,643 $102,159 SMOLIRA GOLF, INC 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes $188,570 126,803 5,273 56,494 1,370 55,124 19,293 $ 35,831 Net income Dividends Retained earnings $11,965 23,866 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.) 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.) 2015 Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio 5.02 times 1.91 times 0.75 times .54 times 1.76 times 0.61 times Asset utilization ratios d. Total asset turnover e. Inventory tunover f. Receivables turnover 2.13 times 9.64 times times Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio k. Cash coverage ratic times times times imes times times times times Profitability ratios l. Profit margin m.Return on assets n. Return on equity