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Question: smolira golf corp 2014 and 2015 balance sheets assets liabilities...

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SMOLIRA GOLF CORP.
2014 and 2015 Balance Sheets
Assets Liabilities and Owners’ Equity
2014 2015 2014 2015
  Current assets   Current liabilities
      Cash $ 23,056 $ 25,200       Accounts payable $ 24,284 $ 28,200
      Accounts receivable 13,548 16,300       Notes payable 13,000 11,900
      Inventory 26,982 28,200       Other 12,671 19,900
        Total $ 63,586 $ 69,700         Total $ 49,955 $ 60,000
  Long-term debt $ 80,000 $ 92,000
  Owners’ equity
      Common stock and paid-in surplus $ 60,000 $ 60,000
      Accumulated retained earnings 209,326 222,000
  Fixed assets
  Net plant and equipment $ 335,695 $ 364,300   Total $ 269,326 $ 282,000
  Total assets $ 399,281 $ 434,000   Total liabilities and owners’ equity $ 399,281 $ 434,000
SMOLIRA GOLF CORP.
2015 Income Statement
  Sales $ 375,123
  Cost of goods sold 258,000
  Depreciation 45,600
  Earnings before interest and taxes $ 71,523
  Interest paid 15,400
  Taxable income $ 56,123
  Taxes (40%) 22,449
  Net income $ 33,674
      Dividends $ 21,000
      Retained earnings 12,674

   

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

  

  

  

  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 %
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