Assets 2017 2018 Liabilities and Owner's Equity 2017 2018

Current assets Current liabilities

Cash $24,086 $24,500 Accounts payable $23,584 $27,500

Accounts receivable$12,848 $15,600 Note payable $15,000 $11,200

Others $11,971 $18300

Inventory $26,042 $27,500 Total $50,555 $57,000

Total $62,976 $67,600 Long-term debt $60,000 $73,000

Owners' equity

Common stock and paid-in surplus $44,000 $44,000

Accumulated retained earnings $237,116$256,000

Fixed assetsNet plant

and equipment $328,695$362,400

Total $281,116 $300,000

Total assets $391,671$430,000 Total liabilities and owners' equity $391,671$430,000

SMOLIRA GOLF CORP.

2018 Income Statement

Sales $373,473

Cost of goods sold $254,500

Depreciation $32,800

EBIT $86,173

Interest paid $14,700

Taxable income $71,473

Taxes (40%) $28,589

Net income $42,884

Dividends $24,000

Retained earnings $18,884

Smolira Golf Corp. has 40,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2018 was $30.

What is Tobin's Q for Smolira Golf?