Question

SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019
	2018		2019				2018		2019
Assets						Liabilities and Owners’ Equity
Current assets						Current liabilities
Cash	$	2,791	$	2,607		Accounts payable	$	2,223	$	2,740
Accounts receivable		4,697		5,641		Notes payable		1,820		2,256
Inventory		12,758		13,642		Other		104		121
Total	$	20,246	$	21,890		Total	$	4,147	$	5,117
						Long-term debt	$	14,700	$	17,460
						Owners’ equity
						Common stock
						and paid-in surplus	$	45,000	$	45,000
Fixed assets						Accumulated retained earnings		15,724		40,134
Net plant and equipment	$	59,325	$	85,821		Total	$	60,724	$	85,134
Total assets	$	79,571	$	107,711		Total liabilities and owners’ equity	$	79,571	$	107,711

SMOLIRA GOLF, INC. 2019 Income Statement
Sales			$	190,170
Cost of goods sold				127,603
Depreciation				5,193
EBIT			$	57,374
Interest paid				1,290
Taxable income			$	56,084
Taxes				19,629
Net income			$	36,455
Dividends	$	12,045
Retained earnings		24,410

Smolira Golf has 12,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2019 was $91.
a.	What is the price-earnings ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b.	What is the price-sales ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
c.	What are the dividends per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
d.	What is the market-to-book ratio at the end of 2019? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answer 1

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