Ratios and Foreign Companies Prince Albert Canning PLC had a net loss off 18,465 on sales off 151,387 (both in thousands of pounds). What was the company's profit margin? Does the fact that these figures arc quoted in a foreign currency make any difference? Why? In dollars; sales were $269,566. What was the net loss in dollars? Some recent financial statements for Smolira Golf Corp. follow.

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SMOLIRA GOLF CORP. 2006 and 2007 Balance Sheets Assets Liabilities and Owners' Equity 2006 2007 2006 2007 Current assets Current liabilities $ 18,270 $ 16,215 $ 17,318 $ 22,150 Cash Accounts payable 10,000 13,865 Accounts receivable 12,315 Notes payable 8,000 21,584 $ 52,169 Inventory 24,876 Other 11,145 14,451 $ 60,891 $ 35,360 $ 80,000 $ 41,769 $ 85,000 Total Total Fixed assets Long-term debt $ 184,735 $ 168,326 Owners' equity Net plant and equipment Common stock and $ 20,000 $ 20,000 paid-in surplus Retained earnings 85,135 98,857 $105,135 $220,495 $118,857 $245,626 Total $ 220,495 $ 245,626 Total assets Total liabilities and owners' equity