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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. $2,191,200 Property,

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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. $2,191,200 Property, plant, and equipment (net) Liabilities: Current liabilities $198,000 996,000 Note payable, 6%, due in 15 years Total liabilities $1,194,000 $1,791,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: 1,791,000 Balance, beginning of year $1,910,000 732,000 $2,642,000 Net income Preferred dividends Common dividends Balance, end of year Total stockholders' equity $71,640 182,360 254,000 2,388,000 $5,970,000 Sales $34,226,500 Interest expense $59,760 Assuming that total assets were $6,806,000 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 Asset turnover d. Return on total assets e. Return on stockholders' equity f. Return on common stockholders' equity

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