Problem $3-35$ Calculating Financial Ratios $[$LO $2]$

Some recent financial statements for Smolira Golf, Incorporated, follow.

SMOLIRA GOLF, INCORPORATED

Balance Sheets as of December $31,2021$ and $2022$

Assets $20212022$ Liabilities and Owners$$ Equity $20212022$

Current assets Current liabilities

Cash $ $3,091$ $ $3,107$ Accounts payable $ $2,173$ $ $2,640$

Accounts receivable $4,7475,741$ Notes payable $1,7702,156$

Inventory $12,55813,742$ Other $94111$

Total $ $20,396$ $ $22,590$ Total $ $4,037$ $ $4,907$

Long$-$term debt $ $13,000$ $ $15,760$

Owners$$ equity

Common stock and paid$-$in surplus $ $40,000$ $ $40,000$

Fixed assets Accumulated retained earnings $15,67439,404$

Net plant and equipment $ $52,315$ $ $77,481$ Total $ $55,674$ $ $79,404$

Total assets $ $72,711$ $ $100,071$ Total liabilities and owners$$ equity $ $72,711$ $ $100,071$

SMOLIRA GOLF, INCORPORATED

$2022$ Income Statement

Sales $ $188,170$

Cost of goods sold $126,603$

Depreciation $5,293$

EBIT $ $56,274$

Interest paid $1,390$

Taxable income $ $54,884$

Taxes $19,209$

Net income $ $35,675$

Dividends $ $11,945$

Retained earnings $23,730$

Find the following financial ratios for Smolira Golf $($use year$-$end figures rather than average values where appropriate$)$:

Note: Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$ Enter the profitability ratios as a percent.