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Some recent financial statements for Smolira Golf, Inc., follow. Some recent financial statements for Smolira Golf, Inc., follow. 2016 Assets Current assets Cash Accounts receivable
Some recent financial statements for Smolira Golf, Inc., follow.
Some recent financial statements for Smolira Golf, Inc., follow. 2016 Assets Current assets Cash Accounts receivable Inventory Total SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 Liabilities and Owners' Equity Current liabilities $ 3,271 $ 3,457 Accounts payable $ 2,138 4,782 5,811 Notes payable 1,735 12,418 13,812 Other 87 $20,471 $23,080 Total $ 3,960 Long-term debt $13,700 Owners' equity Common stock and paid-in surplus $36,500 Accumulated retained earnings 15,639 $49,328 $73,533 Total $52,139 $69,799 $96,613 Total liabilities and owners' equity $69,799 $ 2,570 2,086 104 $ 4,760 $16,460 Fixed assets Net plant and equipment Total assets $36,500 38,893 $75,393 $96,613 SMOLIRA GOLF, INC. 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes $186,770 125,903 5,363 $ 55,504 1,460 $ 54,044 18,915 $ 35,129 Net income Dividends Retained earnings $11,875 23,254 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, 2015 2016 Short-term solvency ratios a. Current ratio Itimes Itimes b. Quick ratio Itimes times times times times times times times times c. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned ratio k. Cash coverage ratio Profitability ratios 1. Profit margin m. Return on assets n. Return on equity Itimes times times times times times % % 1%Step by Step Solution
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