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Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2022 Accounts receivable $ 2,941 4,722 12,658 $ 2,857 $ 20,321 5,691 13,692 $ 22,240 Other Inventory Total Total Long-term debt Owners' equity 2021 2022 $ 2,198 1,795 99 $ 4,092 $ 14,200 Fixed assets Net plant and equipment $ 56,170 Total assets $ 76,491 $ 82,001 $ 104,241 Common stock and paid-in surplus Accumulated retained earnings Total $ 42,500 Total liabilities and owners' equity 15,699 $ 58,199 $ 76,491 $ 2,690 2,206 116 $ 5,012 $ 16,960 $ 42,500 39,769 $ 82,269 $ 104,241 Sales SMOLIRA GOLF, INCORPORATED 2022 Income Statement $ 189,170 Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends Retained earnings 127,103 5,243 $ 56,824 1,340 $ 55,484 19,419 $ 36,065 $ 11,995 24,070 Construct the DuPont identity for Smolira Golf. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent. Profit margin 19.06 % Total asset turnover 1.81 times Equity multiplier Return on equity 0.00 times 0.00 %

Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2022 Accounts receivable $ 2,941 4,722 12,658 $ 2,857 $ 20,321 5,691 13,692 $ 22,240 Other Inventory Total Total Long-term debt Owners' equity 2021 2022 $ 2,198 1,795 99 $ 4,092 $ 14,200 Fixed assets Net plant and equipment $ 56,170 Total assets $ 76,491 $ 82,001 $ 104,241 Common stock and paid-in surplus Accumulated retained earnings Total $ 42,500 Total liabilities and owners' equity 15,699 $ 58,199 $ 76,491 $ 2,690 2,206 116 $ 5,012 $ 16,960 $ 42,500 39,769 $ 82,269 $ 104,241 Sales SMOLIRA GOLF, INCORPORATED 2022 Income Statement $ 189,170 Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends Retained earnings 127,103 5,243 $ 56,824 1,340 $ 55,484 19,419 $ 36,065 $ 11,995 24,070 Construct the DuPont identity for Smolira Golf. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent. Profit margin 19.06 % Total asset turnover 1.81 times Equity multiplier Return on equity 0.00 times 0.00 %

Century 21 Accounting General Journal
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter17: Financial Statement Analysis
Section17.4: Analyzing Financial Statements Using Financial Ratios
Problem 1WT
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Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2022 Accounts receivable $ 2,941 4,722 12,658 $ 2,857 $ 20,321 5,691 13,692 $ 22,240 Other Inventory Total Total Long-term debt Owners' equity 2021 2022 $ 2,198 1,795 99 $ 4,092 $ 14,200 Fixed assets Net plant and equipment $ 56,170 Total assets $ 76,491 $ 82,001 $ 104,241 Common stock and paid-in surplus Accumulated retained earnings Total $ 42,500 Total liabilities and owners' equity 15,699 $ 58,199 $ 76,491 $ 2,690 2,206 116 $ 5,012 $ 16,960 $ 42,500 39,769 $ 82,269 $ 104,241 Sales SMOLIRA GOLF, INCORPORATED 2022 Income Statement $ 189,170 Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends Retained earnings 127,103 5,243 $ 56,824 1,340 $ 55,484 19,419 $ 36,065 $ 11,995 24,070 Construct the DuPont identity for Smolira Golf. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent. Profit margin 19.06 % Total asset turnover 1.81 times Equity multiplier Return on equity 0.00 times 0.00 %
Transcribed Image Text:Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2022 Accounts receivable $ 2,941 4,722 12,658 $ 2,857 $ 20,321 5,691 13,692 $ 22,240 Other Inventory Total Total Long-term debt Owners' equity 2021 2022 $ 2,198 1,795 99 $ 4,092 $ 14,200 Fixed assets Net plant and equipment $ 56,170 Total assets $ 76,491 $ 82,001 $ 104,241 Common stock and paid-in surplus Accumulated retained earnings Total $ 42,500 Total liabilities and owners' equity 15,699 $ 58,199 $ 76,491 $ 2,690 2,206 116 $ 5,012 $ 16,960 $ 42,500 39,769 $ 82,269 $ 104,241 Sales SMOLIRA GOLF, INCORPORATED 2022 Income Statement $ 189,170 Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends Retained earnings 127,103 5,243 $ 56,824 1,340 $ 55,484 19,419 $ 36,065 $ 11,995 24,070 Construct the DuPont identity for Smolira Golf. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent. Profit margin 19.06 % Total asset turnover 1.81 times Equity multiplier Return on equity 0.00 times 0.00 %
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