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Profitability ratios: . Profit margin m. Return on assots n. Return on equty SMOLIRA GOLF CORP. 2018 Income Statement Sales Cost of goods sold Depreciation $ 392,907 256,500 48,400 $ 88,007 Earnings before interest and taxes Interest paid 15,100 Taxable income Taxes (2396) $ 72,907 16,769 Net income $ 56,138 Dividends Retained earnings $21,000 35,138 Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate): (Enter your 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.) Assets 2017 2018 $ 24,126 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 24.900 Accounts payable $ 23,984 16,000 Notes payable 18,000 27,900 Other 12,371 Current assets Cash Accounts receivable Inventory $ 27,900 13,248 11,600 26,542 16,500 Total $ 63,916 $ 68,800 Total $ 54,355 $ 56,000 Long-term debt $ 77,000 $ 74,606 $ 50,000 $ 50,000 Owners' equily Common stock and paid-in surplus Accumulated retained earnings 215,256 250,394 Fixed assets Net plant and equipment $332,695 $362.200 Total $265.256 $300.394 Total liabilities and owners equity $ 396,611 $ 431,000 $ 396.611 Total assets $ 431,000

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