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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) $2,164,300 Liabilities: Current liabilities $187,000 Note payable, 6%, due in 15 years 941,000 Total liabilities $1,128,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $846,000 Common stock, $10 par (no change during year) 846,000 Retained earnings: Balance, beginning of year $902,000 Net Income 394,000 $1,296,000 Preferred dividends $33,840 Common dividends 134,160 168,000 Balance, end of year 1,128,000 Total stockholders' equity $2,820,000 Sales $16,937,800 Interest expense $56,460 Assuming that total assets were $3,751,000 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 X % X% X %

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