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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) $1,951,400 Liabilities: $178,000 Current liabilities Note payable, 6%, due in 15 years 887,000 Total liabilities $1,065,000 Stockholders' equity: $639,000 639,000 Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year $682,000 Net income 267,000 $949,000 $25,560 Preferred dividends Common dividends 71,440 97,000 852,000 Balance, end of year Total stockholders' equity $2,130,000 Sales $19,313,000 Interest expense $53,220 Assuming that total assets were $3,035,000 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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