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HELP PLS ACCOUNTING The following data were taken from the financial statements of Gates Inc. for the current fiscal year Property, plant, and equipment (net)
HELP PLS ACCOUNTING
The following data were taken from the financial statements of Gates Inc. for the current fiscal year Property, plant, and equipment (net) Liabilities $1,167,000 Current liabilities Note payable, 696, due in 15 years Total liabilities $155,000 778,000 $933,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $933,000 Common stock, $10 par (no change during year) 933,000 Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year $996,000 328,000 $1,324,000 $37,320 42,680 80,000 1,244,000 $3,110,000 17,739,000 $46,680 Total stockholders' equity Sales Interest expense Assuming that total assets were $3,841,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place a. Ratio of fixed assets to long-term liabilities Preferred $4 stock, $100 par (no change during year) $933,000 Common stock, $10 par (no change during year) 933,000 Retained earnings Balance, beginning of year $996,000 Net income 328,000 $1,324,000 Preferred dividends $37,320 42,680 80,000 Common dividends 1,244,000 $3,110,000 $17,739,000 $46,680 Balance, end of year Total stockholders' equity Sales Interest expense Assuming that total assets were $3,841,000 at the beginning of the current fiscal year, determine the following. When required, round to 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 e. Return on stockholders' equity f. Return on common stockholders' equityStep by Step Solution
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