Some recent financial statements for Smolira Golf, Inc., follow.SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 20162015 2016 2015 2016 Assets Liabilities and Owners’ Equity Currentassets Current liabilities Cash $ 3,181 $ 3,257 Accounts payable $2,158 $ 2,610 Accounts receivable 4,762 5,771 Notes payable 1,7552,126 Inventory 12,498 13,772 Other 91 108 Total $ 20,441 $ 22,800Total $ 4,004 $ 4,844 Long-term debt $ 13,300 $ 16,060 Owners’equity Common stock and paid-in surplus $ 38,500 $ 38,500 Fixedassets Accumulated retained earnings 15,659 39,185 Net plant andequipment $ 51,022 $ 75,789 Total $ 54,159 $ 77,685 Total assets $71,463 $ 98,589 Total liabilities and owners’ equity $ 71,463 $98,589 SMOLIRA GOLF, INC. 2016 Income Statement Sales $ 187,570Cost of goods sold 126,303 Depreciation 5,323 EBIT $ 55,944Interest paid 1,420 Taxable income $ 54,524 Taxes 19,083 Net income$ 35,441 Dividends $ 11,915 Retained earnings 23,526 Find thefollowing financial ratios for Smolira Golf (use year-end figuresrather than average values where appropriate): (Do not roundintermediate calculations and round your answers to 2 decimalplaces, e.g., 32.16. Enter the profitability ratios as a percent.)2015 2016 Short-term solvency ratios a. Current ratio times timesb. Quick ratio times times c. Cash ratio times times Assetutilization ratios d. Total asset turnover times e. Inventoryturnover times f. Receivables turnover times Long-term solvencyratios g. Total debt ratio times times h. Debt?equity ratio timestimes i. Equity multiplier times times j. Times interest earnedratio times k. Cash coverage ratio times Profitability ratios l.Profit margin % m. Return on assets % n. Return on equity %