Question: pleaee help with the numbers in the problem Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December


Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Current assets Current liabilities Cash $5,298 $ 5,827 7,707 8,477 12,150 21,956 Accounts payable Notes payable Accounts receivable Inventory Other Total $ 25,155 $36,260 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Fixed assets Net plant and equipment $75,301 $ 79,412 Total Total assets $100,456 $115,672 Total liabilities and owners' equity Sales $ 229,854 Cost of goods sold 184,317 Depreciation 8,730 SMOLIRA GOLF, INC. 2019 Income Statement 2018 Liabilities and Owners' Equity 2019 $ 3,754 $ 3,986 3,045 3,318 179 152 $ 6,951 $ 7,483 $ 24,700 $ 16,000 $ 40,000 $37,000 28,805 55,189 $68,805 $92,189 $100,456 $115.672 SMOLIRA GOLF, INC. 2019 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends 229,854 184,317 8,730 36,807 1,811 34,996 7,349 27,647 $ 16,000 Retained earnings 11,647 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin, return on assets, and return on equity as a percent.) 2018 2019 Short-term solvency ratios a. Current ratio times b. Quick ratio times c. Cash ratio. times Asset utilization ratios JA $ times times times. Bi Saved THIG LNG Tooming financiar Touvat your-enu nyurea router uan average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin, return on assets, and return on equity as a percent.) 2018 2019 Short-term solvency ratios a. Current ratio times b. Quick ratio times c. Cash ratio times Asset utilization ratios d. Total asset turnover times e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios g. Total debt ratio times h. Debt-equity ratio times LEquity multiplier times J. Times interest eamed ratio times k. Cash coverage ratio times Profitability ratios 1. Profit margin % m. Return on assets % n. Return on equity % times times times
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
