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Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets 2023 2024 Cash $ 24,226 $ 25,900 Accounts receivable Inventory 14,248 27,802 17,000 Notes payable 28,900 Other Total $ 66,276 $ 71,800 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Fixed assets Net plant and equipment $ 342,695 $ 364,200 Total SMOLIRA GOLF CORPORATION 2023 and 2024 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2023 $ 24,984 17,000 13,371 $ 55,355 $ 124,000 2024 $ 28,900 12,600 17,500 $ 59,000 $127,662 $ 60,000 189,338 $ 249,338 $ 60,000 169,616 $ 229,616 Total assets $ 408,971 $ 436,000 Total liabilities and owners' equity $ 408,971 $ 436,000 SMOLIRA GOLF CORPORATION 2024 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (23%) Net income $ 390,477 261,500 50,900 $ 78,077 16,100 $ 61,977 14,255 $ 47,722 Dividends Retained earnings $ 28,000 19,722 Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate): Note: Enter the 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. Short-term solvency ratios: 2023 2024 a. Current ratio times times b. Quick ratio times times Cash ratio times times Asset utilization ratios: d. Total asset turnover times e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios: 2023 2024 g. Total debt ratio times times h. Debt-equity ratio times times Equity multiplier times times Times interest earned times k. Cash coverage ratio times

Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets 2023 2024 Cash $ 24,226 $ 25,900 Accounts receivable Inventory 14,248 27,802 17,000 Notes payable 28,900 Other Total $ 66,276 $ 71,800 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Fixed assets Net plant and equipment $ 342,695 $ 364,200 Total SMOLIRA GOLF CORPORATION 2023 and 2024 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2023 $ 24,984 17,000 13,371 $ 55,355 $ 124,000 2024 $ 28,900 12,600 17,500 $ 59,000 $127,662 $ 60,000 189,338 $ 249,338 $ 60,000 169,616 $ 229,616 Total assets $ 408,971 $ 436,000 Total liabilities and owners' equity $ 408,971 $ 436,000 SMOLIRA GOLF CORPORATION 2024 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (23%) Net income $ 390,477 261,500 50,900 $ 78,077 16,100 $ 61,977 14,255 $ 47,722 Dividends Retained earnings $ 28,000 19,722 Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate): Note: Enter the 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. Short-term solvency ratios: 2023 2024 a. Current ratio times times b. Quick ratio times times Cash ratio times times Asset utilization ratios: d. Total asset turnover times e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios: 2023 2024 g. Total debt ratio times times h. Debt-equity ratio times times Equity multiplier times times Times interest earned times k. Cash coverage ratio times

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets 2023 2024 Cash $ 24,226 $ 25,900 Accounts receivable Inventory 14,248 27,802 17,000 Notes payable 28,900 Other Total $ 66,276 $ 71,800 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Fixed assets Net plant and equipment $ 342,695 $ 364,200 Total SMOLIRA GOLF CORPORATION 2023 and 2024 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2023 $ 24,984 17,000 13,371 $ 55,355 $ 124,000 2024 $ 28,900 12,600 17,500 $ 59,000 $127,662 $ 60,000 189,338 $ 249,338 $ 60,000 169,616 $ 229,616 Total assets $ 408,971 $ 436,000 Total liabilities and owners' equity $ 408,971 $ 436,000 SMOLIRA GOLF CORPORATION 2024 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (23%) Net income $ 390,477 261,500 50,900 $ 78,077 16,100 $ 61,977 14,255 $ 47,722 Dividends Retained earnings $ 28,000 19,722 Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate): Note: Enter the 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. Short-term solvency ratios: 2023 2024 a. Current ratio times times b. Quick ratio times times Cash ratio times times Asset utilization ratios: d. Total asset turnover times e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios: 2023 2024 g. Total debt ratio times times h. Debt-equity ratio times times Equity multiplier times times Times interest earned times k. Cash coverage ratio times
Transcribed Image Text:Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets 2023 2024 Cash $ 24,226 $ 25,900 Accounts receivable Inventory 14,248 27,802 17,000 Notes payable 28,900 Other Total $ 66,276 $ 71,800 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Fixed assets Net plant and equipment $ 342,695 $ 364,200 Total SMOLIRA GOLF CORPORATION 2023 and 2024 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2023 $ 24,984 17,000 13,371 $ 55,355 $ 124,000 2024 $ 28,900 12,600 17,500 $ 59,000 $127,662 $ 60,000 189,338 $ 249,338 $ 60,000 169,616 $ 229,616 Total assets $ 408,971 $ 436,000 Total liabilities and owners' equity $ 408,971 $ 436,000 SMOLIRA GOLF CORPORATION 2024 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (23%) Net income $ 390,477 261,500 50,900 $ 78,077 16,100 $ 61,977 14,255 $ 47,722 Dividends Retained earnings $ 28,000 19,722 Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate): Note: Enter the 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. Short-term solvency ratios: 2023 2024 a. Current ratio times times b. Quick ratio times times Cash ratio times times Asset utilization ratios: d. Total asset turnover times e. Inventory turnover times f. Receivables turnover times Long-term solvency ratios: 2023 2024 g. Total debt ratio times times h. Debt-equity ratio times times Equity multiplier times times Times interest earned times k. Cash coverage ratio times
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