Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 2,761 $ 2,557 Accounts payable $ 2,228 $ 2,750 Accounts receivable 4,692 5,631 Notes payable 1,825 2,266 Inventory 12,778 13,632 Other 105 122 Total $ 20,231 $ 21,820 Total $ 4,158 $ 5,138 Long-term debt $ 14,800 $ 17,560 Owners’ equity Common stock and paid-in surplus $ 45,500 $ 45,500 Fixed assets Accumulated retained earnings 15,729 40,207 Net plant and equipment $ 59,956 $ 86,585 Total $ 61,229 $ 85,707 Total assets $ 80,187 $ 108,405 Total liabilities and owners’ equity $ 80,187 $ 108,405 SMOLIRA GOLF, INC. 2019 Income Statement Sales $ 190,370 Cost of goods sold 127,703 Depreciation 5,183 EBIT $ 57,484 Interest paid 1,280 Taxable income $ 56,204 Taxes 19,671 Net income $ 36,533 Dividends $ 12,055 Retained earnings 24,478 Find the following financial

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Some recent financial statements for Smolira Golf, Inc

Finance Oct 02, 2020

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

SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019
	2018		2019			2018		2019
Assets					Liabilities and Owners’ Equity
Current assets					Current liabilities
Cash	$	2,761	$	2,557	Accounts payable	$	2,228	$	2,750
Accounts receivable		4,692		5,631	Notes payable		1,825		2,266
Inventory		12,778		13,632	Other		105		122

Total	$	20,231	$	21,820	Total	$	4,158	$	5,138

					Long-term debt	$	14,800	$	17,560
					Owners’ equity
					Common stock
					and paid-in surplus	$	45,500	$	45,500
Fixed assets					Accumulated retained earnings		15,729		40,207

Net plant and equipment	$	59,956	$	86,585	Total	$	61,229	$	85,707

Total assets	$	80,187	$	108,405	Total liabilities and owners’ equity	$	80,187	$	108,405

SMOLIRA GOLF, INC. 2019 Income Statement
Sales	$	190,370
Cost of goods sold		127,703
Depreciation		5,183

EBIT	$	57,484
Interest paid		1,280

Taxable income	$	56,204
Taxes		19,671

Net income	$	36,533

Dividends	$	12,055
Retained earnings		24,478

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

		2018		2019
Short-term solvency ratios
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
g.	Total debt ratio		times		times
h.	Debt-equity ratio		times		times
i.	Equity multiplier		times		times
j.	Times interest earned ratio				times
k.	Cash coverage ratio				times
Profitability ratios
l.	Profit margin				%
m.	Return on assets				%
n.	Return on equity				%

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