Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes SMOLIRA GOLF, INCORPORATED 2022 Income Statement Net income Dividends Retained earnings 2021 Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debl-equity ratio. 1. Equity multiplier j. Times interest earned ratio $ 3,031 4,737 12,598 $20,366 $ 54,277 $ 74,643 SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable 2021 $ 188,570 126,803 5,273 $ 56,494 1,370 $ 55,124 19,293 $ 35,831 $ 11,965 23,866 times times times $ 3,007 5,721 13,722 $ 22,450 times times times $ 79,709 $ 102,159 2022 Total Long-term debt Owners' equity Common stock and paid-in surplus Total liabilities and owners' equity times times times Notes payable Other times times times Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate) Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent. times times times Accumulated retained earnings Total times 2021 $ 2,183 1,780 96 $ 4,059 $ 13,900 $ 41,000 15,684 $ 56,684 $ 74,643 2022 $ 2,660 2,176 113 $4,949 $ 16,660 $ 41,000 39,550 $ 80,550 $102,159 4.09Some recent financial statements for Smolira Golf, Incorporated, followAssetsCurrent assetsCashAccounts receivableInventoryTotalFixed assetsNet plant and equipmentTotal assetsSalesCost of goods soldDepreciationEBITInterest paidTaxable incomeTaxesNet incomeSMOLIRA GOLF, INCORPORATED2022 Income StatementDividendsRetained earnings2021Short-term solvericy ratiosa. Current ratio:b. Quick ratioc. Cash ratioAsset ublizabon ratiosd. Total asset turnovere. Inventory turnoverf. Receivables turnoverLong-term solvency ratiosg. Total debt ratio.h. Debt-equity ratio1. Equity multiplier3. Times interest earned ratio$ 3,0314,73712,598$ 20,366$ 54,277$ 74,6432021SMOLIRA GOLF, INCORPORATEDBalance Sheets as of December 31, 2021 and 20222022Liabilities and Owners! EquityCurrent liabilitiesAccounts payableNotes payableOther$ 188,570126,8035,273$ 56,4941,370$ 55,12419,293$ 35,831$ 11,96523,866timestimestimestimestimestimes$3,0075,72113,722$ 22,450$ 79,709$ 102,159TotalLong-term debtOwners' equityCommon stock and paid-in surplusAccumulated retained earningsTotalTotal liabilities and owners' equity2022Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate)Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratiosas a percent.timestimestimestimestimestimes2021tunestimestimestimes$ 2,1831,78096$4,059$ 13,900$ 41,00015,684$56,684$ 74,6432022$ 2,6602,176113$4,949$ 16,660$ 41,00039,550$ 80,550$ 102,159

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Description: Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation EBIT Interest paid Taxable

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Some recent financial statements for Smolira Golf, Incorporated, follow Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation EGIT Interest paid Taxable income Taxes Net income SMOLIRA GOLF, INCORPORATED 2022 Income Statement Dividends Retained earnings Short-term solvency ratios a. Current ratio b. Quick ratio e. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover 2021 Long term solvency ratios g. Total debt ratio h. Debt-equity rabo Equity multiplier 1. Times interest earned ratio $ 3,031 4,737 12,598 $ 20,366 $ 54,277 $74,643 SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners! Equity Current liabilities Accounts payable Notes payable Other 2021 $ 185,570 126,803 5,273 $56,494 1,370 $ 35,124 19,293 $ 35,831 $ 11,965 23,866 times times times times times times $ 3,007 5,721 13,722 $ 22,450 $ 79,709 $ 102,159 Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate) Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent. Total Long-term debt Owners equity Common stock and paid-in surplus 2022 Accumulated retained earnings Total Total liabilities and owners equity times times times times times times 2021 $ 2,183 1,780 96 $4,059 $ 13,900 tunes times times times $ 41,000 15,684 $56,684 $ 74,643 2022 $ 2,660 2,176 113 $4,949 $ 16,660 $ 41,000 39,550 $ 80,550 $ 102,159

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

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Some recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes SMOLIRA GOLF, INCORPORATED 2022 Income Statement Net income Dividends Retained earnings 2021 Short-term solvency ratios a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios g. Total debt ratio h. Debl-equity ratio. 1. Equity multiplier j. Times interest earned ratio $ 3,031 4,737 12,598 $20,366 $ 54,277 $ 74,643 SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable 2021 $ 188,570 126,803 5,273 $ 56,494 1,370 $ 55,124 19,293 $ 35,831 $ 11,965 23,866 times times times $ 3,007 5,721 13,722 $ 22,450 times times times $ 79,709 $ 102,159 2022 Total Long-term debt Owners' equity Common stock and paid-in surplus Total liabilities and owners' equity times times times Notes payable Other times times times Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate) Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent. times times times Accumulated retained earnings Total times 2021 $ 2,183 1,780 96 $ 4,059 $ 13,900 $ 41,000 15,684 $ 56,684 $ 74,643 2022 $ 2,660 2,176 113 $4,949 $ 16,660 $ 41,000 39,550 $ 80,550 $102,159

4.09
Some recent financial statements for Smolira Golf, Incorporated, follow
Assets
Current assets
Cash
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
Sales
Cost of goods sold
Depreciation
EBIT
Interest paid
Taxable income
Taxes
Net income
SMOLIRA GOLF, INCORPORATED
2022 Income Statement
Dividends
Retained earnings
2021
Short-term solvericy ratios
a. Current ratio:
b. Quick ratio
c. Cash ratio
Asset ublizabon ratios
d. Total asset turnover
e. Inventory turnover
f. Receivables turnover
Long-term solvency ratios
g. Total debt ratio.
h. Debt-equity ratio
1. Equity multiplier
3. Times interest earned ratio
$ 3,031
4,737
12,598
$ 20,366
$ 54,277
$ 74,643
2021
SMOLIRA GOLF, INCORPORATED
Balance Sheets as of December 31, 2021 and 2022
2022
Liabilities and Owners! Equity
Current liabilities
Accounts payable
Notes payable
Other
$ 188,570
126,803
5,273
$ 56,494
1,370
$ 55,124
19,293
$ 35,831
$ 11,965
23,866
times
times
times
times
times
times
$3,007
5,721
13,722
$ 22,450
$ 79,709
$ 102,159
Total
Long-term debt
Owners' equity
Common stock and paid-in surplus
Accumulated retained earnings
Total
Total liabilities and owners' equity
2022
Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate)
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios
as a percent.
times
times
times
times
times
times
2021
tunes
times
times
times
$ 2,183
1,780
96
$4,059
$ 13,900
$ 41,000
15,684
$56,684
$ 74,643
2022
$ 2,660
2,176
113
$4,949
$ 16,660
$ 41,000
39,550
$ 80,550
$ 102,159

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