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) $1,702,800 Liabilities: Current liabilities $156,000 Share on Note payable, 6%, due in 15 years 774,000 Total liabilities $930,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year $558,000 558,000 Net Income $596,000 218,000 $814,000 $22,320 Preferred dividends Common dividends 47,680 70,000 Balance, end of year 744,000 $1,860,000 Total stockholders' equity Sales $15,778,900 Interest expense $46,440 Assuming that total assets were $2,651,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place Check My Work 2 more Check My Work uses remaining Previous Next > eBook Calculator Print Item TODOS CU Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year $558,000 558,000 Net income Preferred dividends $596,000 218,000 $814,000 $22,320 47,680 70,000 Common dividends Balance, end of year 744,000 Total stockholders' equity $1,860,000 Sales $15,778,900 Interest expense $46,440 Assuming that total assets were $2,651,000 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 96 Check My Work 2 more Check My Work uses remaining, Previous Next