QUESTION 11 2016 Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2,941 $ 2,857 Accounts payable $ 2,198 Accounts receivable 4,722 5,691 Notes payable 1,795 Inventory 12,658 13,692 Other Total $20,321 $ 22,240 Total $ 4,092 Long-term debt $14,200 Owners' equity Common stock and paid-in surplus $42,500 Fixed assets Accumulated retained earnings 15,699 Net plant and equipment $56,170 $ 82,001 Total $58,199 Total assets $76,491 $104,241 Total liabilities and owners' equity $76,491 99 $ 2,690 2,206 116 $ 5,012 $ 16,960 $ 42,500 39,769 $ 82,269 $104,241 SMOLIRA GOLF, INC. 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends $ 11,995 Retained earnings 24,070 $189,170 127,103 5,243 $ 56,824 1,340 $ 55,484 19,419 $ 36,065 times 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. Pay attention to the unit required by each ratio. For, example, enter the current ratio as times, but the profitability ratios as a percent.) 2015 2016 Short-term solvency ratios a. Current ratio times times b. Quick ratio times times times C. Cash ratio Asset utilization ratios times d. Total asset turnover e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios g. Total debt ratio times times h. Debt-equity ratio times i. Equity multiplier times times j. Times interest earned ratio times k Cash coverage ratio times Profitability ratios I. Profit margin m. Return on assets n. Return on equity times % % %