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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) $900,200 Liabilities: Current liabilities $128,000 Note payable, 6%, due in 15 years 643,000 $771,000 Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $578,250 Common stock, $10 par (no change during year) 578,250 Retained earnings: Balance, beginning of year $616,000 Net income $888,000 272,000 Preferred dividends $23,130 Common dividends 93,870 117,000 Balance, end of year 771,000 $1,927,500 Total stockholders' equity $11,577,500 Sales $38,580 Interest expense Assuming that total assets were $2,564,000 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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