eBook Calculator Print Item Six Measures of Solvency or Profitability The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) $1,074,000 Liabilities: Current liabilities $179,000 Note payable, 6%, due in 15 years 895,000 Total liabilities $1,074,000 Stockholders' equity: Preferred $2 stock, $100 par (no change during year) $644,400 Common stock, $10 par (no change during year) 644,400 Retained earnings: Balance, beginning of year $688,000 Net income 269,000 $957,000 Preferred dividends $12,888 Common dividends 84,912 97,800 Balance, end of year 859,200 Total stockholders' equity $2,148,000 Sales $16,021,650 Interest expense $53,700 o Ps w Balance, beginning of year $688,000 Net income 269,000 $957,000 Preferred dividends $12,888 Common dividends 84,912 97,800 Balance, end of year 859,200 Total stockholders' equity $2,148,000 Sales $16,021,650 Interest expense $53,700 Assuming that total assets were $3,061,000 at the beginning of the current fiscal year, determine the following. When required, round one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders Equity C. Asset turnover d. Return on total assets 96 e. Return on stockholders' equity 96 f. Return on common stockholders' equity 90 Check My Work 3 more Check My Work uses remaining Previous Nex All work saved. Email Instructor Save and Exit Submit Assignment for G O RI Ps 0 E 10. Home End Insert Fd F5 F6 F7 F8 F9 F10 F11 F12