Assets 2011 SMOLIRA GOLF CORP

Subject:FinancePrice: Bought3

Share With

Assets 2011 SMOLIRA GOLF CORP. 2011 and 2012 Balance Sheets Llabilities and Owners' Equity 2012 2011 2012 Current labitles $ 24,256 Accounts payable $ 23,184 $ 27,420 $24,046 Current assets Cash Accounts receivable Inventory Total 12,448 25,392 15,236 27,155 12.000 11,571 $ 46.755 $ 80,000 10.800 15,553 $ 53,773 $ 95,000 SMOLIRA GOLF CORP. 2012 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (35%) Net Income Dividends $20.000 Retained earnings 23,780 $386,996 253,122 32,220 $ 81,654 14,300 $ 67,354 $61,886 Notes payable Other Total Long-term debt Owners' equity Common stock and pald-in surplus Accumulated retained earnings 66,645 23,574 43,780 $ 40,000 $ 40,000 219,826 243,606 Fixed assets Net plant and equipment 324,695 386,734 $259,826 $283,606 Total Total abilities and owners' equity Total assets $388,581 $432.379 $386,581 $432,379 Find the following financial ratios for Smolira Golf Corp and please give a brief assessment of the financial condition of Smolira Golf Corp according to the ratios (use year-end figures rather than average values where appropriate): Short-term solvency ratios: a. Current ratio Long-term solvency ratios: b. Total debt ratio c. Debt-equity ratio d. Times interest earned ratio Profitability ratios: e. Profit margin f. Return on assets g. R