3. [5] Find the following 2018 financial ratio for Smolira Golf using the financial statements attached...

  

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3. [5] Find the following 2018 financial ratio for Smolira Golf using the financial statements attached at the end. (Use year-end figures rather than average values where appropriate): a. Short-term Solvency Ratios: Current ratio b. Asset Utilization Ratios: NWC turnover, Total asset turnover c. Long-term Solvency ratios: Total debt ratio, Debt-equity ratio, Equity Multiplier d. Profitability ratios: Profit margin, return on assets, return on equity Current Assets Cash Accounts Receivable Inventory Total Assets Fixed Assets Net plant and equipment Total assets 2017 Smolira Golf Corp. 2017 and 2018 Balance Sheets 2018 $34,385 37,837 17,801 27,766 36,310 42,632 88,496 108,235 $464,315 $519,639 $552,811 $627,868 Sales Cost of goods sold Depreciation Current liabilities Dividends Retained earnings Accounts payable Notes payable Other Total Smolira Golf Corp. 2018 Income Statement Liabilities and Owners' Equity Long-term debt Owner's equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity Earnings before interest and taxes Interest paid Taxable income Taxes (25%) Net Income 25,000 37,235 $506,454 359,328 44,463 102,663 19,683 82,980 20,745 62,235 2017 2018 36,722 42,582 19,008 16,200 19,864, 24,634 75,594 83 416 115,000 145,000 55,000 55,000 307,217 344452 362,217 399 452 552,811 627,868 3. [5] Find the following 2018 financial ratio for Smolira Golf using the financial statements attached at the end. (Use year-end figures rather than average values where appropriate): a. Short-term Solvency Ratios: Current ratio b. Asset Utilization Ratios: NWC turnover, Total asset turnover c. Long-term Solvency ratios: Total debt ratio, Debt-equity ratio, Equity Multiplier d. Profitability ratios: Profit margin, return on assets, return on equity Current Assets Cash Accounts Receivable Inventory Total Assets Fixed Assets Net plant and equipment Total assets 2017 Smolira Golf Corp. 2017 and 2018 Balance Sheets 2018 $34,385 37,837 17,801 27,766 36,310 42,632 88,496 108,235 $464,315 $519,639 $552,811 $627,868 Sales Cost of goods sold Depreciation Current liabilities Dividends Retained earnings Accounts payable Notes payable Other Total Smolira Golf Corp. 2018 Income Statement Liabilities and Owners' Equity Long-term debt Owner's equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity Earnings before interest and taxes Interest paid Taxable income Taxes (25%) Net Income 25,000 37,235 $506,454 359,328 44,463 102,663 19,683 82,980 20,745 62,235 2017 2018 36,722 42,582 19,008 16,200 19,864, 24,634 75,594 83 416 115,000 145,000 55,000 55,000 307,217 344452 362,217 399 452 552,811 627,868

Answer rating: 100% (QA)

a Shortterm Solvency Ratio Current Ratio Current Ratio Current Assets Current Liabilities For 2018 Current Assets 83416 Current Liabilities 108235 Cur... View the full answer