Prince Albert Canning PLC had a net loss of 45,831 on sales of 198,352. What was the

Prince Albert Canning PLC had a net loss of £45,831 on sales of £198,352. 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 $314,883. What was the net loss in dollars? Some recent financial statements for Smolira Golf Corp. follow. Use this information to work Problems 26 through 30.

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SMOLIRA GOLF CORP. 2011 and 2012 Balance Sheets Assets Liabilities and Owners' Equity 2011 2012 2011 2012 Current assets Current liabilities $24,046 24,255 Accounts payable 23,184 27,420 12,000 10,800 $ 46,755 $ 53,773 Cash Accounts receivable 12,448 15,235 Notes payable 25,392 11571 15553 15,553 Inventory 27,155 $61,886 66,645 Other Total Total 80,000 95,000 Long-term debt Owners' equity Common stock and $ 40,000 40,000 retained earnings 219,826 243,606 $259,826 $283,606 $386,581 $432,379 paid-in surplus Accumulated Fixed assets Net plant and equipment 32465 365,734 Total Total liabilities and Total assets $386,581 S432,379 oners equity SMOLIRA GOLF CORP. 2012 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (3596) Net income $366,996 253,122 32,220 S 81,654 14,300 67,354 23,574 S 43,780 $20,000 23,780 Dividends Retained earnings