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2018 2019 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 Inventory tumover times e. f. Receivables turnover times Long-tem solvency ratios times g. h. Debt-equity ratio Equity multiplier Total debt ratio times times times i. times times Times interest eamed ratio Cash coverage ratio j. times k. times Profitability ratios I. Profit margin Return on assets n. Return on equity

2018 2019 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 Inventory tumover times e. f. Receivables turnover times Long-tem solvency ratios times g. h. Debt-equity ratio Equity multiplier Total debt ratio times times times i. times times Times interest eamed ratio Cash coverage ratio j. times k. times Profitability ratios I. Profit margin Return on assets n. Return on equity

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities $ 3,271 $ 3,457 4,782 5,811 13,812 12,418 Accounts payable Notes payable $ 2,138 $ 2,570 2,086 104 Cash Accounts receivable 1,735 Inventory Other 87 Total $ 20,471 $23,080 Total $ 3,960 $ 4,760 $ 13,700 $16,460 Long-term debt Owners' equity Common stock 36,500 and paid-in surplus $36,500 $ Accumulated retained 38,893 Fixed assets 15,639 earnings 75,393 Net plant and equipment $ 52,139 $ $49,328 $73,533 Total Total liabilities and owners' Total assets $69,799 $ 96,613 $ 69,799 $96,613 equity
Transcribed Image Text:Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities $ 3,271 $ 3,457 4,782 5,811 13,812 12,418 Accounts payable Notes payable $ 2,138 $ 2,570 2,086 104 Cash Accounts receivable 1,735 Inventory Other 87 Total $ 20,471 $23,080 Total $ 3,960 $ 4,760 $ 13,700 $16,460 Long-term debt Owners' equity Common stock 36,500 and paid-in surplus $36,500 $ Accumulated retained 38,893 Fixed assets 15,639 earnings 75,393 Net plant and equipment $ 52,139 $ $49,328 $73,533 Total Total liabilities and owners' Total assets $69,799 $ 96,613 $ 69,799 $96,613 equity
SMOLIRA GOLF, INC. 2019 Income Statement 186,770 Sales 125,903 Cost of goods sold Depreclation 5,363 EBIT $55,504 1,460 Interest pald Taxable Income $54,044 Тахes 18,915 Net Income $ 35,129 Dividends $ 11,875 Retalned earnings 23,254 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round Intermedlate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitablity ratlos as a percent.) 2018 2019 Short-term solvency ratios Current ratio a. times times b. Quick ratio times times Cash ratio times times С. Asset utilization ratios Total asset turnover e. Inventory tumover d. times times times f. Receivables turnover Long-tem solvency ratios g. Total debt ratio times times h. Debt-equity ratio Equity multiplier times times i. times times j. Times interest eamed ratio times k. Cash coverage ratio times Profitability ratios Profit margin 1. % m. Return on assets % n. Return on equity %
Transcribed Image Text:SMOLIRA GOLF, INC. 2019 Income Statement 186,770 Sales 125,903 Cost of goods sold Depreclation 5,363 EBIT $55,504 1,460 Interest pald Taxable Income $54,044 Тахes 18,915 Net Income $ 35,129 Dividends $ 11,875 Retalned earnings 23,254 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round Intermedlate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitablity ratlos as a percent.) 2018 2019 Short-term solvency ratios Current ratio a. times times b. Quick ratio times times Cash ratio times times С. Asset utilization ratios Total asset turnover e. Inventory tumover d. times times times f. Receivables turnover Long-tem solvency ratios g. Total debt ratio times times h. Debt-equity ratio Equity multiplier times times i. times times j. Times interest eamed ratio times k. Cash coverage ratio times Profitability ratios Profit margin 1. % m. Return on assets % n. Return on equity %
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