Given the related information of Smolira Golf Corp. from 2018 Income Statement (Sales $366,996; net income...
Given the related information of Smolira Golf Corp. from 2018 Income Statement (Sales $366,996; net income $43,780) and 2018 Balance Sheet (Total Equity $283,606; Total Asset $432,379). Please calculate the Return on Equity, Profit Margin, and Total Asset Turnover ratios.
Homework Answers
Given that:
Sales=$366,996
Net income=$43,780
Total Equity (or shareholders' equity) =$283,606
Total Asset=$432,379
Return on Equity=Net Income/Shareholders' Equity
=$43,780/$283,606=0.154369 or 15.4369%
Profit Margin=Net Income/Sales=$43,780/$366,996=0.11929 or 11.929%
Total Asset Turnover=Sales/Total assets=$366,996/$432,379=0.84878 or 84.878%
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Given the related information of Smolira Golf Corp. from 2018
Income Statement (Sales $366,996; net income...
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2. Calculating Financial Ratios [LO2] Find the following financial ratios for Smolira Golf Corp. for 2018...
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26. Calculating Financial Ratios (LO2] Find the following financial ratios for Smolira Golf Corp. (use year-end...
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Some recent financial statements for Smolira Golf Corp. follow SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 24,056 24,200 15,300 27,200 $ 62,196 $66,700 $ 23,284 $ 27,200 10,900 15,900 $ 46,955 54,000 90,000 93,294 Accounts Inventory Total Accounts payable Notes payable Other 12,548 12,000 receivable 25,592 11,671 Total Long-term debt Owners' equity Common stock and paid-in $42,000 42,000 surplus Accumulated retained 208,936 242,706 earnings...
Some recent financial statements for Smolira Golf Corp. follow SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 24,056 24,200 15,300 27,200 $ 62,196 $66,700 $ 23,284 $ 27,200 10,900 15,900 $ 46,955 54,000 90,000 93,294 Accounts Inventory Total Accounts payable Notes payable Other 12,548 12,000 receivable 25,592 11,671 Total Long-term debt Owners' equity Common stock and paid-in $42,000 42,000 surplus Accumulated retained 208,936 242,706 earnings...
2. Calculating Financial Ratios [LO2] Find the following financial ratios for Smolira Golf Corp. for 2018 (year-end figures reflect average values where appropriate): Assets Current assets Cash Accounts receivable Inventory Total SMOLIRA GOLF CORP. 2018 Balance Sheets Liabilities and Owners' Equity 2018 2018 Current liabilities $ 37,837 Accounts payable $ 42,582 27,766 Notes payable 16,200 42.632 Other 24 634 108,235 Total 83,416 145,000 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Equity Total liabilities and owners'...
SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation $369,230 260,500 47,350 Earnings before interest and taxes Interest paid $ 61,380 15,900 Taxable income Taxes (21%) $ 45,480 9,551 Net income $ 35,929 Dividends Retained earnings $26,000 9,929 Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory $ 24,206 14,048 27.622 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $...
SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets 2018 Current liabilites 2017 2017 2018 Current Assets 34,385 37,837 Account payable 36,722 42,582 Cash Accounts Receivable 17,801 27,766 Notes payable 19,008 16,200 Inventory 36,310 42,632 Other 19,864 24,634 Total 88,496 108,235 Total 75,594 83,416 115,000 145,000 Fixed Assets Net plant and equipment 464,315 519,633 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings 55,000 55,000 307,217 344,452 362,217 399,452 Total Total liablities and owners' equity Total Assets 552,811.0...
Some recent financial statements for Smolira Golf Corp. follow SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 24,116 24,800 15,900 27,800 63,656 68,500 $23,884 27,800 11,500 15,700 $53,155 55,000 $76,000 80,259 Cash Accounts 13,148 26,392 Accounts payable Notes payable Other 17,000 receivable Inventory 12,271 Total Total Long-term debt Owners' equity Common stock and paid-in $40,000 40,00o surplus Accumulated retained 226,196 258,741 earnings Fixed assets Net plant...
SMOLIRA GOLF 2011 and 2012 Balance Sheets Liabilities and Owners' Equity 2011 Assets 2012 2012 2011 Current liabilities Current assets Cash Accounts receivable Inventory $ 23,184 12,000 11,571 $ 27,420 10,800 15,553 $ 24.255 15,235 27,155 Accounts payable Notes payable Other 24,046 12.448 25.392 $ 66,645 $ 46,755 $ 53.773 S 61.886 Total Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 80,000 $95,000 $ 40,000 219,826 $ 40,000 243,606 Fixed assets Net plant and...
Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory $ 24,076 12,748 25,742 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 24,400 Accounts payable $ 23,484 15,500 Notes payable 13,000 2 7,400 Other 11,871 $ 67,300 Total $ 48,355 Long-term debt $ 72,000 $ 27,400 11,100 17,500 Total $ 62,566 $ 56,000 $ 85,616 Owners' equity Common stock and paid-in surplus Accumulated...
26. Calculating Financial Ratios (LO2] Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): Assets 2017 2018 Short-term solvency ratios: SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities S 37857 Accounts payable S 36.722 27.766 Notes puble 19.00 42632 Other 19 SHO.255 Toal Long term debe S115.000 $ 34 35 42582 a. Current ratio. Accounts receivable 16.200 b. Quick ratio. 17.801 _36,310 $88.9...
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