nment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inprogress=false E Calculator Print Item eBook Six Measures of Solvency or Profitability The following data were taken from the financial statements of Gates Inc. for the current fiscal year. $2,044,400 Property, plant, and equipment (net) Liabilities: Current liabilities $214,000 Note payable, 6%, due in 15 years 1,076,000 $1,290,000 Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $774,000 Common stock, $10 par (no change during year) 774,000 Retained earnings: Balance, beginning of year $826,000 Net income 389,000 $1,215,000 Preferred dividends $30,960 Common dividends 183,000 152,040 Balance, end of year 1,032,000 Total stockholders' equity $2,580,000 Sales $23,773,050 Interest expense $64,560 Assumina that total assets were $3.677.000 at the beainning of the current fiscal vear, determine the followina. When reauired. round Check My Work 2 more Check My Work uses remaining. Previous Next ament/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inprogress=false Common stock, $10 par (no change during year) 774,000 Retained earnings: Balance, beginning of year $826,000 Net income 389,000 $1,215,000 Preferred dividends $30,960 Common dividends 152,040 183,000 Balance, end of year 1,032,000 Total stockholders' equity $2,580,000 Sales $23,773,050 Interest expense $64,560 Assuming that total assets were $3,677,000 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' equity Check My Work 2 more Check My Work uses remaining. Previous Next