Question

Some recent financial statements for Smolira Golf, Inc., follow.

SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016
	2015				2016					2015				2016
Assets									Liabilities and Owners’ Equity
Current assets									Current liabilities
Cash	$	3,061			$	3,057			Accounts payable	$	2,178			$	2,650
Accounts receivable		4,742				5,731			Notes payable		1,775				2,166
Inventory		12,578				13,732			Other		95				112
Total	$	20,381			$	22,520			Total	$	4,048			$	4,928
									Long-term debt	$	12,900			$	15,660
									Owners’ equity
									Common stock and paid-in surplus	$	40,500			$	40,500
Fixed assets									Accumulated retained earnings		15,679				39,477
Net plant and equipment	$	52,746			$	78,045			Total	$	56,179			$	79,977
Total assets	$	73,127			$	100,565			Total liabilities and owners’ equity	$	73,127			$	100,565

  

SMOLIRA GOLF, INC. 2016 Income Statement
Sales			$	188,370
Cost of goods sold				126,703
Depreciation				5,283
EBIT			$	56,384
Interest paid				1,380
Taxable income			$	55,004
Taxes				19,251
Net income			$	35,753
Dividends	$	11,955
Retained earnings		23,798

Construct the DuPont identity for Smolira Golf.

Answer 1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE