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S03-27 DuPont Identity (LO3] Some recent financial statements for Smolira Golf Corporation follow. SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Liabilities and Owners' Equity Current assets Current liabilities Cash $ 32,653 $ 39,350 Accounts payable Accounts receivable 16,911 28,877 Notes payable Inventory 34,495 44,336 Other 2020 2021 $ 34,886 $ 44,285 18,058 16,848 18,871 25.619 Total $ 84,059 $ 112,563 Total $ 71,815 $ 86.752 Long-term debt $ 110,000 $ 140,000 Fixed assets Owners' equity Common stock and paid-in surplus $55.000 $ 55.000 Accumulated retained earnings 288,343 333,683 Net plant and equipment $ 441,099 $ 502,872 Total $ 343 343 $ 388,683 Total assets $ 525158 $ 615,435 Total liabilities and owners' equity $ 525 158 $ 615,435 $ 531,750 377,294 46.686 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (25%) Net Income Dividends $ 20.000 Retained earnings 45,340 S 107.770 20,650 $ 87120 21.780 $ 65,340 Construct the DuPont Identity for Smolira Golf Corporation percent The company's profit marginis Total asset turnover is Equity multiplier is Using the DuPont identity, the company's ROE IS times times (Use year end figures rather than average values where appropriate. Enter your answer as a percent rounded to 2 decimal places, e... 32. 16. (Round your answer to 2 decimal places. ... 32.16.) (Round your answer to 2 decimal places....32.16.) (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16.) percent

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