SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners\' E

Question

SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2018 23,484 27400 11,100 17500 $ 48,355 56,000 2017 2018 2017 Current assets Accounts Inventory Total Current liabilities $ 24,076 24,400 15,500 27,400 62,566 67,300 Cash Accounts payable Notes payable Other 12,748 13,000 receivable 25,742 11,871 Total Long-term debt Owners' equity 72,000 85,616 45,000 45.000 243,384 Common stock and paid-in surplus Accumulated retained 224,906 earnings Fixed assets Net plant and equipment $327695 $362,700 Total $269,906 $288,384 nt 61 $430,000 equity Total liabilities and owners' Total assets $390,2 s 390,261 $430,000

Explanation / Answer

Profit Margin (Profit/Sales) 10.96% =41478/378618 Total Asset Turnover (Sales/Assets)      0.88 =378618/430000 Equity Multiplier (Assets/Equity)      1.49 =430000/288384 Return on equity (ROE) 14.38% 10.96%*0.88*1.49

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