Using the Balance Sheets and Income Statement below, please calculate the following ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate):

• Short-term solvency ratios
  • Current Ratio
  • Quick Ratio
  • Cash Ratio
• Asset utilization ratios:
  • Total asset turnover
  • Inventory turnover
  • Receivables turnover
• Long-term solvency ratios:
  • Total debt ratio
  • Debt-equity ratio
  • Equity multiplier
  • Times interest earned ratio
  • Cash coverage ratio
• Profitability ratios:
  • Profit Margin
  • Return on Assets
  • Return on Equity
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SMOLIRA GOLD CORP. 2014 and 2015 Balance Sheets Assets ($) Liabilities and Owners' Equity ($) 2014 2015 2014 2015 Current Assets Current Liabilities Cash 26,450 29,106 Accounts Payable 30,602 35,485 Accounts Receivable 13,693 18,282 Notes Payable 15.840 13.500 Inventory 27,931 32,586 Other 15,280 20,441 Total 68,074 79,974 Total 61,722 69,426 Long-term debt 95.000 110,000 Owner's equity Fixed Assets Net Plant and Equipment Common stock and paid in 357,165 398,346 surplus 45,000 45,000 Accumulated retained earnings 223,517 253,893 Total 268,517 298,893 Total Assets 425,239 478,319 Total Liabilities and owners' equity 425,239478,319 SMOLIRA GOLD CORP. 2015 Income Statement ($) Sales 422,045 Cost of Goods Sold 291,090 Depreciation 37,053 Earnings before interest and taxes 93,902 Interest paid 16,400 Taxable income 77,502 Taxes (35%) ) 27,126 Net income 50,376 Dividends 20.000 Retained Earnings 30,376