Prince Albert Canning PLC had a net loss of £26,382 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 $385,815. What was the net loss in dollars? 

Some recent financial statements for Smolira Golf Corp. follow. Use this information to work this problem.

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SMOLIRA GOLF CORP. 2020 and 2021 Balance Sheets Assets Liabilities and Owners' Equity 2020 2021 2020 2021 Current assets Current liabilities Cash $ 32,653 $ 39,350 Accounts payable $ 34,886 $ 44,285 Accounts Notes payable 18,058 16,848 receivable 16,911 28,877 Inventory 34,495 44,336 Other 18,871 25,619 Total 24 $112,563 Total $ 71,815 $ 86,752 Long-term debt $110,000 $140,000 Owners' equity Common stock and paid-in surplus $ 55,000 $ 55,000 Accumulated Fixed assets retained earnings 288,343 333,683 $343,343 $388,683 Net plant and equipment Total 441,099 502,872 Total liabilities and Total assets $525,158 $615,435 owners' equity $525,158 $615,435