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Calculating Financial Ratios LO2 Find the following financial ratios for Smolira Golf Corp use year end figures rather than average values where appropriate SMOLIRA GOLF CORP 2014 and 2015

26. Calculating Financial Ratios [LO2] Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Liabilities and Owners Equity Assets 2014 2015 2015 2014 Current liabilities Current assets 26,450 29,106 Accounts payable 30,602 35,485 Cash Accounts receivable 13,693 18.282 Notes payable 15,840 13,500 inventory 27,931 32,586 Other 15,280 20,441 68,074 79,974 61,722 69,426 Total Total Long-term debt 95,000 $110,000 Owners equity Common stock and paid-in surplus 45,000 45,000 Accumulated retained earnings Fixed assets 223,517 253,893 Net plant and equipment 357,165 398,345 Total $268,517 $298,893 Total liabilities and Total assets $425,239 $478,319 owners equity $425,239 $478,319 SMOLIRA GOLF CORP. 2015 Income Statement Sales $422,045 291,090 Cost of goods sold Depreciation 37,053 93,902 Earnings before interest and taxes interest paid 16,400 Taxable income 77,502 Taxes (35%) 27,126 50,376 Net income $20,000 Dividends 30,376 Retained earnings

Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate):
 

Apr 07 2020 View more View Less

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