Prince Albert Canning PLC had a net loss of ?29,157 on sales of ?315,650. 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 $395,183. 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. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity Assets 2017 2018 2017 2018 Current assets Current liabilities $ 34,385 $ 37,837 $ 36,722 $ 42,582 Accounts payable Notes payable Cash Accounts receivable 17,801 27,766 19,008 16,200 Inventory 36,310 42,632 Other 19,864 24,634 $ 88,496 $108,235 $ 75,594 $ 83,416 Total Total Long-term debt $115,000 $145,000 Owners' equity Common stock and paid-in, surplus $ 55,000 $ 55,000 Fixed assets Accumulated retained earnings 307,217 344,452 Net plant and Total 464,315 519,633 $362,217 $399,452 equipment Total assets $552,811 $627,868 Total liabilities and owners' equity $552,811 $627,868 SMOLIRA GOLF CORP. 2018 Income Statement Sales $506,454 359,328 44,463 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (25%) Net income Dividends Retained earnings $102,663 19,683 $ 82,980 20,745 $ 62,235 $25,000 37,235