Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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| Some recent financial statements for Smolira Golf, Inc., follow. |
| SMOLIRA GOLF, INC. |
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| 2018 | 2019 | 2018 | 2019 | |||||||
| Assets | Liabilities and Owners’ Equity | |||||||||
| Current assets | Current liabilities | |||||||||
| Cash | $ | 3,211 | $ | 3,307 | Accounts payable | $ | 2,153 | $ | 2,600 | |
| Accounts receivable | 4,767 | 5,781 | Notes payable | 1,750 | 2,116 | |||||
| Inventory | 12,478 | 13,782 | Other | 90 | 107 | |||||
| Total | $ | 20,456 | $ | 22,870 | Total | $ | 3,993 | $ | 4,823 | |
| Long-term debt | $ | 13,400 | $ | 16,160 | ||||||
| Owners’ equity | ||||||||||
| Common stock | ||||||||||
| and paid-in surplus | $ | 38,000 | $ | 38,000 | ||||||
| Fixed assets | |
15,654 | 39,112 | |||||||
| Net plant and equipment | $ | 50,591 | $ | 75,225 | Total | $ | 53,654 | $ | 77,112 | |
| Total assets | $ | 71,047 | $ | 98,095 | Total liabilities and owners’ equity | $ | 71,047 | $ | 98,095 | |
| SMOLIRA GOLF, INC. 2019 Income Statement |
||
| Sales | $ | 187,370 |
| Cost of goods sold | 126,203 | |
| |
5,333 | |
| EBIT | $ | 55,834 |
| Interest paid | 1,430 | |
| Taxable income | $ | 54,404 |
| Taxes | 19,041 | |
| Net income | $ | 35,363 |
| Dividends | $ | 11,905 |
| Retained earnings | 23,458 | |
| Find the following financial ratios for Smolira Golf (use year-end figures rather than average values where appropriate): (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profitability ratios as a percent.) |
|
2019 Profitability Ratios I. Profit Margin ?% M. N. |
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