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28 Sep 2019
Some recent financial statements for Smolira Golf, Inc.,follow.
SMOLIRA GOLF, INC.
Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Ownersâ Equity Current assets Current liabilities Cash $ 3,121 $ 3,157 Accounts payable $ 2,168 $ 2,630 Accounts receivable 4,752 5,751 Notes payable 1,765 2,146 Inventory 12,538 13,752 Other 93 110 Total $ 20,411 $ 22,660 Total $ 4,026 $ 4,886 Long-term debt $ 13,100 $ 15,860 Ownersâ equity Common stock and paid-in surplus $ 39,500 $ 39,500 Fixed assets Accumulated retained earnings 15,669 39,331 Net plant and equipment $ 51,884 $ 76,917 Total $ 55,169 $ 78,831 Total assets $ 72,295 $ 99,577 Total liabilities and ownersâ equity $ 72,295 $ 99,577
SMOLIRA GOLF, INC.
2016 Income Statement Sales $ 187,970 Cost of goods sold 126,503 Depreciation 5,303 EBIT $ 56,164 Interest paid 1,400 Taxable income $ 54,764 Taxes 19,167 Net income $ 35,597 Dividends $ 11,935 Retained earnings 23,662
Find the following financial ratios for Smolira Golf (useyear-end figures rather than average values where appropriate):(Do not round intermediate calculations and round youranswers to 2 decimal places, e.g., 32.16. Enter the profitabilityratios as a percent.)
2015 2016 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. Debtâequity 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 %
PLEASE DO F-N
Some recent financial statements for Smolira Golf, Inc.,follow.
SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 | ||||||||||||||||
2015 | 2016 | 2015 | 2016 | |||||||||||||
Assets | Liabilities and Ownersâ Equity | |||||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 3,121 | $ | 3,157 | Accounts payable | $ | 2,168 | $ | 2,630 | |||||||
Accounts receivable | 4,752 | 5,751 | Notes payable | 1,765 | 2,146 | |||||||||||
Inventory | 12,538 | 13,752 | Other | 93 | 110 | |||||||||||
Total | $ | 20,411 | $ | 22,660 | Total | $ | 4,026 | $ | 4,886 | |||||||
Long-term debt | $ | 13,100 | $ | 15,860 | ||||||||||||
Ownersâ equity | ||||||||||||||||
Common stock and paid-in surplus | $ | 39,500 | $ | 39,500 | ||||||||||||
Fixed assets | Accumulated retained earnings | 15,669 | 39,331 | |||||||||||||
Net plant and equipment | $ | 51,884 | $ | 76,917 | Total | $ | 55,169 | $ | 78,831 | |||||||
Total assets | $ | 72,295 | $ | 99,577 | Total liabilities and ownersâ equity | $ | 72,295 | $ | 99,577 | |||||||
SMOLIRA GOLF, INC. 2016 Income Statement | ||||||
Sales | $ | 187,970 | ||||
Cost of goods sold | 126,503 | |||||
Depreciation | 5,303 | |||||
EBIT | $ | 56,164 | ||||
Interest paid | 1,400 | |||||
Taxable income | $ | 54,764 | ||||
Taxes | 19,167 | |||||
Net income | $ | 35,597 | ||||
Dividends | $ | 11,935 | ||||
Retained earnings | 23,662 | |||||
Find the following financial ratios for Smolira Golf (useyear-end figures rather than average values where appropriate):(Do not round intermediate calculations and round youranswers to 2 decimal places, e.g., 32.16. Enter the profitabilityratios as a percent.)
2015 | 2016 | |||||
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. | Debtâequity 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 | % | ||||
PLEASE DO F-N
Trinidad TremblayLv2
28 Sep 2019