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thank you in advance!! Some recent financial statements for Smolira Golf, Inc., follow SMOLIRA GOLF, INC Balance Sheets as of December 31, 2013 and 2014
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Some recent financial statements for Smolira Golf, Inc., follow SMOLIRA GOLF, INC Balance Sheets as of December 31, 2013 and 2014 2014 2013 2014 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 3,151 $ 3,207 Accounts payable 4,757 12,518 13,762 Other $ 2,163 $ 2,620 1,760 92 2,136 109 Accounts receivable 5,761Notes payable Inventory Total $20,426 $22,730 Total $4,015 $ 4,865 $13,200 $ 15,960 Long-term debt Owners' equity Common stock $39,000 $ 39,000 15,664 39,258 and paid-in surplus Accumulated retained earnings Fixed assets Net plant and equipment $51,453 $76,353 Total $54,664 $ 78,258 Total assets $71,879 $99,083 Total liabilities and owners' equity $71,879 $ 99,083 SMOLIRA GOLF, INC 2014 Income Statement $ 187,770 126,403 5,313 Sales Cost of goods sold Depreciation $ 56,054 1,410 EBIT Interest paid Taxable income $ 54,644 19,125 Taxes $ 35,519 Net income $ 11,925 23,594 Dividends Retained earnings 2014 2013 Short-term solvency ratios a. Current ratio times times b. Quick ratio times times c. Cash ratio times times Asset utilization ratios times d. Total asset turnover e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios g. Total debt ratio times times h. Debt-equity ratio times times i. Equity multiplier times times Times interest earned ratio times j. k. Cash coverage ratio times Profitability ratios I. Profit margin m. Return on assets n. Return on equityStep by Step Solution
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