eBook Calculator Six Measures of Solvency or Profitability The following data were taken from the financial statements of Gates Inc. for the current fiscal year $1,835,400 $176,000 874,000 $1,050,000 Property, plant, and equipment (net) Llabilities: Current liabilities Note payable, 6%, due in 15 years Total liabilities Stockholders' equity: Preferred $2 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year of Net Income Preferred dividends Common dividends Balance, end of year Total stockholders' equity $630,000 630,000 $672,000 297,000 $12,600 116,400 $969,000 129,000 840,000 $2,100,000 Sales $6,883,900 Interest expense $52,440 Assuming that long-term investments totaled $1,575,000 throughout the year and that total assets were $2,993,000 at the bega the following. When required, round to one decimal place. a. Ratio of food assets to long-term libes Check My Work 1 more Check My Works remaining All work saved. MacBook Air 20 Preferred $2 stock, $100 par (no change during year) $630,000 Common stock, $10 par (no change during year) 630,000 Retained earnings: Balance, beginning of year $672,000 Net income 297,000 $969,000 Preferred dividends $12,600 Common dividends 116,400 129,000 Balance, end of year 840,000 Total stockholders' equity $2,100,000 $6,883,900 Interest expense $52,440 Assuming that long-term investments totaled $1,575,000 throughout the year and that total assets were $2,993,000 at the be the following. When required, round to one decimal place. a. Ratio of i d assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover Sales d. Return on total assets e. Return on stockholders' equity f. Return on common stockholders' equity Check My Work 1 more Check My Work uses remaining