Find the asset utilization ratios for smolira golf corp

Assignment Help Financial Management

Reference no: EM131988493

SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets
Assets					Liabilities and Owners' Equity
	2014		2015			2014		2015
Current assets					Current liabilities
Cash	$	24,136	$	25,000	Accounts payable	$	24,084	$	28,000
Accounts receivable		13,348		16,100	Notes payable		19,000		11,700
Inventory		26,722		28,000	Other		12,471		18,300

Total	$	64,206	$	69,100	Total	$	55,555	$	58,000

					Long-term debt	$	78,000	$	89,000
					Owners' equity
					Common stock and paid-in surplus	$	60,000	$	60,000
					Accumulated retained earnings		204,346		226,000
Fixed assets
Net plant and equipment	$	333,695	$	363,900	Total	$	264,346	$	286,000

Total assets	$	397,901	$	433,000	Total liabilities and owners' equity	$	397,901	$	433,000

SMOLIRA GOLF CORP. 2015 Income Statement
Sales			$	383,818
Cost of goods sold				257,000
Depreciation				48,300

Earnings before interest and taxes			$	78,518
Interest paid				15,200

Taxable income			$	63,318
Taxes (20%)				12,664

Net income			$	50,654

Dividends	$	29,000
Retained earnings		21,654

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.)

Asset utilization ratios: 2014
d. Total asset turnover times
e. Inventory turnover times
f. Receivables turnover times

Long-term solvency ratios: 2014 2015
g. Total debt ratio times times
h. Debt-equity ratio times times
i. Equity multiplier times times

2014
j. Times interest earned times
k. Cash coverage ratio times

Profitability ratios: 2014

I. Profit margin %
m. Return on assets %
n. Return on equity %

Reference no: EM131988493

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