Question: I am having some trouble with this question. I can get parts of it, but some of it I can't figure out. Could you please
I am having some trouble with this question. I can get parts of it, but some of it I can't figure out. Could you please explain how to complete the rest? Thank you.



Some recent financial statements for Smolira Golf Corp. follow. Assets 2014 2015 SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Liabilities and Owners' Equity 2015 2014 Current liabilities $ 24,200 Accounts payable $ 23,284 15,300 Notes payable 12,000 27,200 Other 11,671 $ 24.056 Current assets Cash Accounts receivable Inventory $ 27,200 12,548 10,900 25,592 15,900 Total $ 62,196 $ 66,700 Total $ 46,955 $ 54,000 $ 90,000 $ 103,000 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 42,000 $ 42,000 208,936 233,000 Fixed assets Net plant and equipment $325,695 $365,300 Total $250,936 $275,000 Total assets $ 387,891 $432,000 Total liabilities and owners' equity $ 387,891 $432,000 SMOLIRA GOLF CORP. 2015 Income Statement Sales Cost of goods sold Depreciation $336,329 231,000 21,600 Earnings before interest and taxes Interest paid $ 83,729 14,400 Taxable income Taxes (35%) $ 69,329 24,265 Net income $ 45,064 Dividends Retained earnings $ 21,000 24,064 Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): (Enter the profitability ratios as a percent rounded to 2 decimal places, e.g., 32.16. Enter the remaining ratios as decimals rounded to 2 digits, e.g., 0.32) 2014 2015 Short-term solvency ratios: a. Current ratio b. Quick ratio C. Cash ratio times times -51 times times times 45 times ratios: a. Current ratio b. Quick ratio C. Cash ratio times times 51 times times times 45 times Asset utilization ratios: d. Total asset turnover e. Inventory turnover Receivables f. turnover .78 times 8.49 times 21.98 times 2015 Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier 2014 times times times times times times 5.81 times Times interest jearned Cash coverage k. ratio times 13.40 % Profitability ratios (enter as percentages): 1. Profit margin Return on 'assets n. Return on equity m. 10.43 %
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