struggling and need help with Question 26: Asset utilization ratios through profitability ratios & Questions 27,28, &29

Page 88 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 34.385 $ 37.837 Accounts payable $ 36,722 $ 42.582 Accounts receivable 17.801 27,766 Notes payable 19.008 16,200 Inventory 36.310 42.632 Other 19.864 24.634 Total $ 88.496 $108.235 Total $ 175.594 $183.416 Long-term debt SI5.000 $145.000 Owners' equity $ 55.000 $ 55.000 Common stock and paid-in surplus 55.000 Fixed assets Accumulated retained earnings 307,212 1344452 464315 519.633 Totill Net plant and equipment S 362.01Z $399.452 Total assets $552.81) SORTISOS S 550.81 $627.868 Totul liabilities and wat equity SMOLIRA GOLF CORP. 2018 Income Statement Sales $ 506,454 359,328 Cost of goods sold Depreciation 44,463 Earnings before interest and taxes $ 102,663 Interest paid 19,683 Taxable income $82,980 Taxes (25%) 20.745 Net income $ 62.235 Dividends $ 25,000 Retained earnings 37.235 f. Receivables turnover. Long-term solvency ratios: g. Total debt ratio. h. Debt-equity ratio. Page 89 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 27 28. 29. DuPont Identity (LO3] Construct the DuPont identity for Smolira Golf Corp Statement of Cash Flows [LO1] Prepare the 2018 statement of cash flows for Smolina Golf Corp. Market Value Ratios [LO2] Smolira Golf Corp, has 20,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2018 was $58. What is the price-earnings ratio? What are the dividends per share? What is the market-to-book ratio at the end of 2018? If the company's growth rate is 9 percent, what is the PEG ratio? 26. Calculating Financial Ratios (LO2] Find the following financial ratios for Smolira Golf Corp. (use year-end fig rather than average values where appropriate): Short-term solvency ratios: a. Current ratio. b. Quick ratio. 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 Page 89 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, Page 88 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 34.385 $ 37.837 Accounts payable $ 36,722 $ 42.582 Accounts receivable 17.801 27,766 Notes payable 19.008 16,200 Inventory 36.310 42.632 Other 19.864 24.634 Total $ 88.496 $108.235 Total $ 175.594 $183.416 Long-term debt SI5.000 $145.000 Owners' equity $ 55.000 $ 55.000 Common stock and paid-in surplus 55.000 Fixed assets Accumulated retained earnings 307,212 1344452 464315 519.633 Totill Net plant and equipment S 362.01Z $399.452 Total assets $552.81) SORTISOS S 550.81 $627.868 Totul liabilities and wat equity SMOLIRA GOLF CORP. 2018 Income Statement Sales $ 506,454 359,328 Cost of goods sold Depreciation 44,463 Earnings before interest and taxes $ 102,663 Interest paid 19,683 Taxable income $82,980 Taxes (25%) 20.745 Net income $ 62.235 Dividends $ 25,000 Retained earnings 37.235 f. Receivables turnover. Long-term solvency ratios: g. Total debt ratio. h. Debt-equity ratio. Page 89 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 27 28. 29. DuPont Identity (LO3] Construct the DuPont identity for Smolira Golf Corp Statement of Cash Flows [LO1] Prepare the 2018 statement of cash flows for Smolina Golf Corp. Market Value Ratios [LO2] Smolira Golf Corp, has 20,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2018 was $58. What is the price-earnings ratio? What are the dividends per share? What is the market-to-book ratio at the end of 2018? If the company's growth rate is 9 percent, what is the PEG ratio? 26. Calculating Financial Ratios (LO2] Find the following financial ratios for Smolira Golf Corp. (use year-end fig rather than average values where appropriate): Short-term solvency ratios: a. Current ratio. b. Quick ratio. 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 Page 89 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