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Some recent financial statements for Smolira Golf Corp follow SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners Equity 2014 2014 2015 Current assets Current liabilities 24.126 24,900 16,000 27,900 Cash Accounts receivable Inventory 13 248 26,542 Accounts payable Notes payable Other 23,984 27,900 11600 18,000 12,371 16,500 54,355 56,000 s 77,00087000 Common stock and paid in surplus50,000 50,000 Total S 63,916$68,800 Total Long-term debt Owners equity Accumulated refained earnings 238,000 $265,256 $288,000 $396,611$431,000 215,256 Fixed assets Net plant and equipment $332,695 $362,200Total Total assets $396,611$431,000 Total liabilities and owners equity SMOLIRA GOLF CORP 2015 Income Statement Sales Cost of goods sold $392,907 256,500 48,400 Earnings before inlerest and taxes interest paid $ 88,007 15,100 Taxable income Taxes (40%) S 72,907 29,163 Net income S 43,744 Dividends Retained earnings $ 21,000 22,744 here appropnat e4-, 32.16. Round the remaining answers to 2 decinal places, eg, 32:16.) nter your prolfitability ratio answers as a percent rounded to 2 decimal places

Eamings before interest and taxes Interest paid 88,007 15,100 Taxable income Taxes (40%) $ 72.907 29, 163 Net income 43,744 Dividends Retained earnings 5 21,000 22,744 ind the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values rñate): (Enter your profitability ratio answers as a percent rounded to 2 decimal places, e.g, 32.16. Round the remaining answers to 2 decimal places, e.g, 32.16.) Short-term solvency ratios 14 2015 a. Current ratio b. Quick ratio c. Cash ratio times times times times Asset utilization ratios. d. Total asset tunover e. Inventory tunover f. Receivables turnover times times Long-lerm solvency ratios g. Total debt ratio h. Debl-equity ratio i. Equity multiplier 2014 2015 times times times times imes times 1- Times interest eamed k. Cash coverage ratio Г times Protit margin m. Retum on assets n. Return on equity Type here to search

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2014 2015 3 a. Current ratio Current assets/Current liabilities 1.18 times 1.23 times 4 -63916/54355 -68800/56000 b. Quick ratio Quick assets/Current liabilities 0.69 times 0.73 tmes (63916-26542)/54355 (68800-27900)/56000 9 c. Cash ratio Cash/Current liabilities 0.44 times 0.44 times 24126/54355 24900/56000 12 d. Total asset turnover Sales/Total assets 0.91times 13 392907/431000

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