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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) $1,651,500 Uabilities: Current liabilities $219,000 Note payable, 6%, due in 15 years 1,101,000 Total liabilities $1,320,000 Stockholders' equity Preferred $2 stock, $100 par (no change during year) $792,000 Common stock, $10 par (no change during year) 792,000 Retained earnings Balance, beginning of year 3844,000 Net income 324,000 $1,168,000 Preferred dividends 315,840 Common dividends 96,160 112,000 Balance, end of year 1,055.000 Total stocholders $2,640,000 Sales $10,721,700 Interest Expense $66,060 Asuming that long-term investments totale 51,980,000 throughout the year and that totales were $3,762,000 at the beginning of the current near year, determine the following when required, round to decimale talon terms 1.5 $792,000 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 792,000 $844,000 324,000 $1,168,000 Net income $15,840 Preferred dividends Common dividends 96,160 112,000 Balance, end of year Total stockholders' equity 1,056,000 $2,640,000 $10,721,700 Sales Interest expense 566,060 Assuming that long-term investments totaled $1,980,000 throughout the year and that total assets were 33,762,000 at the beginning of the current fiscal year, determine the following. When required, round to be decimal place a. tooted its to long-term is 1.5 b. Ratio of liabilities to stockholders equity 0.5 Asset turnever 2.7 x d. Remonto turn on our 1. Ketum on common sontalons equiry