Some recent financial statements for Smolira Golf Corp

Finance Jan 27, 2021

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	$	24,096	$	24,600	Accounts payable	$	23,684	$	27,600
Accounts receivable		12,948		15,700	Notes payable		14,000		11,300
Inventory		26,242		27,600	Other		12,071		18,100

Total	$	63,286	$	67,900	Total	$	49,755	$	57,000

					Long-term debt	$	74,000	$	82,000
					Owners’ equity
					Common stock and paid-in surplus	$	48,000	$	48,000
					Accumulated retained earnings		221,226		242,000
Fixed assets
Net plant and equipment	$	329,695	$	361,100	Total	$	269,226	$	290,000

Total assets	$	392,981	$	429,000	Total liabilities and owners’ equity	$	392,981	$	429,000

SMOLIRA GOLF CORP. 2015 Income Statement
Sales			$	414,290
Cost of goods sold				265,500
Depreciation				57,700

Earnings before interest and taxes			$	91,090
Interest paid				14,800

Taxable income			$	76,290
Taxes (40%)				30,516

Net income			$	45,774

Dividends	$	25,000
Retained earnings		20,774

The company's profit margin is percent. (Use year-end figures rather than average values where appropriate. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) The total asset turnover is times. (Round your answer to 2 decimal places, e.g., 32.16.) The equity multiplier is times. (Round your answer to 2 decimal places, e.g., 32.16.) Using the Du Pont Identity, the company's ROE is percent. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)