Question: Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets Liabilities and Owners Equity 2017 2018 2017

Some recent financial statements for Smolira Golf Corp. follow.

SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets
Assets Liabilities and Owners Equity
2017 2018 2017 2018
Current assets Current liabilities
Cash $ 24,136 $ 25,000 Accounts payable $ 24,084 $ 28,000
Accounts receivable 13,348 16,100 Notes payable 19,000 11,700
Inventory 26,722 28,000 Other 12,471 18,300
Total $ 64,206 $ 69,100 Total $ 55,555 $ 58,000
Long-term debt $ 78,000 $ 91,532
Owners equity
Common stock and paid-in surplus $ 60,000 $ 60,000
Accumulated retained earnings 204,346 223,468
Fixed assets
Net plant and equipment $ 333,695 $ 363,900 Total $ 264,346 $ 283,468
Total assets $ 397,901 $ 433,000 Total liabilities and owners equity $ 397,901 $ 433,000

SMOLIRA GOLF CORP. 2018 Income Statement
Sales $ 383,818
Cost of goods sold 257,000
Depreciation 48,300
Earnings before interest and taxes $ 78,518
Interest paid 15,200
Taxable income $ 63,318
Taxes (24%) 15,196
Net income $ 48,122
Dividends $ 29,000
Retained earnings 19,122
The company's profit margin is percent. (Use year-end figures rather than average values where appropriate. Enter your answer as a
percent rounded to 2 decimal places, e.g., 32.16.) The total asset turnover is times. (Round your answer to 2 decimal places, e.g., 32.16.)
The equity multiplier is times. (Round your answer to 2 decimal places, e.g., 32.16.) Using the DuPont Identity, the company's ROE is
percent. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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