Financial Ratios Assignment | Homework For You

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 $ 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 $ 81,337 Owners’ equity Common stock and paid-in surplus $ 60,000 $ 60,000 Accumulated retained earnings 209,326 232,663 Fixed assets Net plant and equipment $ 335,695 $ 364,300 Total $ 269,326 $ 292,663 Total assets $ 399,281 $ 434,000 Total liabilities and owners’ equity $ 399,281 $ 434,000Homework For You SMOLIRA GOLF CORP. 2018 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 (21%) 11,786 Net income $ 44,337 Dividends $ 21,000 Retained earnings 23,337 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.)

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Short-term solvency ratios: 2014 2015
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: 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


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  Profitability ratios:
I.   Profit margin %
m.   Return on assets %
n.   Return on equity %

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