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Given the following information, please calculate A through F 6/8/2020 CengageNOWv2 1 Online teaching and learning resource from Cengage Learning Six Measures of Solvency or
Given the following information, please calculate A through F
6/8/2020 CengageNOWv2 1 Online teaching and learning resource from Cengage Learning 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) $1,423,800 Liabilities: Current liabilities $204,000 Note payable, 6%, due in 15 years 1,017,000 Total liabilities $1,221,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $915,750 Common stock, $10 par (no change during year) 915,750 Retained earnings: Balance, beginning of year $976,000 Net income 370,000 $1,346,000 Preferred dividends $36,630 Common dividends 88,370 125,000 Balance, end of year 1,221,000 Total stockholders' equity $3,052,500 Sales $20,417,075 Interest expense $61,020 Assuming that total assets were $4,060,000 at the beginning of the current fiscal year, determine the following. When required, round to 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 % e. Return on stockholders' equity % f. Return on common stockholders' equity % 2 more Check My Work uses remainingStep by Step Solution
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