Prince Albert Canning PLC had a 2008 net loss of £16,182 on sales of £238,165 (both in thousands of pounds). What was the company's profit margin? Does the fact that these figures are quoted in a foreign currency make any difference? Why? In dollars, sales were $454,058. What was the net loss in dollars? Some recent financial statements for Smolira Golf, Inc., follow. Use this information to work Problems 34 through 37.

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Balarnce Sheets as of December 31,:2007 and 2008 2007 2008 2007 2008 Assets Liabilities and Owners' Equity Current assets Current iabilities Cash Accounts receivable nventory 4,158 9,873 $14628 $16.536 2,351 250Accounts payable 3,419 8,856 Notes payable Other $1,778 1,971 1,582 161 1,525 72 Total Long-term debt Owners oquity 3,375 3,714 $11,500 $12,500 Total Common stock $30,000 $30,000 and paid-in sueplus Accumulated retained eamings4685 Fixed assets Net plant and equipmen $3,934 S52,121 Total assets $34,685 $52,443 549,560 $%68,657 $49,560 otal liablinies and owners' equity SMOLİRA GOLFING- 2008 Income Statement $124,380 64,805 Sales Cost of goods sold Depreciation ΕΒΙΤ Interest paid Taxable income Taxes Net income 55,993 080 55,013 19,255 $35,758 Dividends Retained earnings $18,000 17,758