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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,

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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) $1,625,200 Liabilities: Current liabilities $190,000 956,000 Note payable, 6%, due in 15 years Total liabilities $1,146,000 $687,600 Stockholders' equity: Preferred $2 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: 687,600 Balance, beginning of year $734,000 Net income 274,000 $1,008,000 Preferred dividends $13,752 Common dividends 77,448 91,200 Balance, end of year 916,800 Total stockholders' equity $2,292,000 Sales $19,106,400 Interest expense $57,360 Interest expense $57,360 Assuming that total assets were $3,266,000 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

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