Some recent financial statements for Smolira Golf Corp. follow.

SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets
Assets									Liabilities and Owners’ Equity
	2014				2015					2014				2015
Current assets									Current liabilities
Cash	$	24,116			$	24,800			Accounts payable	$	23,884			$	27,800
Accounts receivable		13,148				15,900			Notes payable		17,000				11,500
Inventory		26,392				27,800			Other		12,271				15,700
Total	$	63,656			$	68,500			Total	$	53,155			$	55,000
									Long-term debt	$	76,000			$	94,000
									Owners’ equity
									Common stock and paid-in surplus	$	40,000			$	40,000
									Accumulated retained earnings		226,196				245,000
Fixed assets
Net plant and equipment	$	331,695			$	365,500			Total	$	266,196			$	285,000
Total assets	$	395,351			$	434,000			Total liabilities and owners’ equity	$	395,351			$	434,000

SMOLIRA GOLF CORP.
2015 Income Statement 

Sales $396,340 

Cost of goods sold 256,000 

Depreciation 49,000 

Earnings before interest and taxes $91,340 

Interest paid 15,000 

Taxable income $76,340 

Taxes (40%) 30,536 

Net income $45,804 

Dividends$27,000 

Retained earnings 18,804

Find the following financial ratios for Smolira Golf Corp.

Short-term solvency ratios:		2014	2015
a.	Current ratio	times	times
b.	Quick ratio	times	times
c.	Cash ratio	times	times

Asset utilization ratios:
d.	Total asset turnover	times
e.	Inventory turnover	times
f.	Receivables turnover	times

Long-term solvency ratios:		2014	2015
g.	Total debt ratio	times	times
h.	Debt–equity ratio	times	times
i.	Equity multiplier	times	times

j.	Times interest earned	times
k.	Cash coverage ratio	times

Profitability ratios:
I.	Profit margin	%
m.	Return on assets	%
n.	Return on equity	%

Answer rating: 100% (QA)

To calculate the requested financial ratios for Smolira Golf Corp well use the provided financial statement data Shortterm Solvency Ratios a Current R... View the full answer