$2017$ and $2018$ Statement of Financial Position

Assets

Liabilities and Owners' Equity

$2017.$

$2018$

$2017$

$2018$

Current assets

Current liabilities

Cash

$24,046$

S $24,255$

Accounts payable

Notes payable

S $23,184$

S

$27.,420$

Accounts receivable

$12,448$

$15,235$

$12\mathrm{.}000$

$10,800$

Inventory

$25\mathrm{.}392$

$27\mathrm{.}155$

Other

$11\mathrm{.}571$

$15,553$

Total

$ $61\mathrm{.}886$

S$66\mathrm{.}645$

Total

S

$46\mathrm{.}755$

$53\mathrm{.}773$

Fixed assets

Long$-$term debt

Owners' equity Common stock and paid$-$in surplus

Net plant and equipment

$80\mathrm{.}000$

S$95\mathrm{.}000$

$$324\mathrm{.}695$

$$365\mathrm{.}734$

$40\mathrm{.}000$

S

$40\mathrm{.}000$

Retained earnings

$219\mathrm{.}826$

$243,606$

Total

$$259\mathrm{.}826$

$$283\mathrm{.}606$

Total assets

$$386\mathrm{.}581$

$$432\mathrm{.}379$

Total liabilities and owners' equity

S$386\mathrm{.}581$

$$432\mathrm{.}379.2018$ Statement of Comprehensive Income

Sales

Cost of goods sold

Depreciation

$$366\mathrm{.}996$

$253,122$

Earnings before interest and tax

Interest paid

Taxable income

Taxes $(35\%)$

$32\mathrm{.}220$

$$81\mathrm{.}654$

$14\mathrm{.}300$

$$67\mathrm{.}354$

Net Income

$23\mathrm{.}574$

Dividends

$$43\mathrm{.}780$

$$20\mathrm{.}000$

Additions to retained earnings

$23,780$

$27.$ Caleulating Financial Ratios $($L$03)$ Find the following financial ratios for Earl Grey Golf Corp. $($use year$-$end figures ratherthan average values where appropriate$)$:

Short$-$term solvency ratios

a$.$ Current ratio

b$.$ Quick ratio

c$.$ Cash ratio

Asset utilization ratios

d$.$ Total asset turnover

e$.$ Inventory turnover

f$.$ Receivables turnover

Page $108$

Long$-$term solvency ratios

g$.$ Total debt ratio

Debt$-$equity ratio

i$.$ Equity multiplier

j$.$ Times interest earned ratio

k$.$ Cash coverage ratio

Profitability ratios

I. Profit margin

m$.$ Return on assets

$28.$ DuPont Identity $($LO$4)$ Construct the DuPont identity for Earl Grey Golf Corp.