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.

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 SMOLRA GOLFING- 2008 Income Statement $124,380 64,805 Sales Cost of goods sold Depreciation Interest paid Taxable income Taxes Net income 55,993 080 55,013 19,255 $35,758 Dividends Retained earnings $18,000 17,758