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) Liabilities $1,618,400 Current liabilities Note payable, 696, due in 15 years Total liabilities $230,000 1,156,000 $1,386,000 Stockholders' equity: Preferred $2 stock, $100 par (no change during year) $1,386,000 Common stock, $10 par (no change during year) 1,386,000 Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year $1,478,000 642,000 $2,120,000 $27,720 244,280 272,000 Total stockholders' equity Sales Interest expense Assuming that total assets were $5,706,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place 1,848,000 $4,620,000 $33,379,200 $69,360 Stockholders' equity Preferred $2 stock, $100 par (no change during year) $1,386,000 Common stock, $10 par (no change during year) 1,386,000 Retained earnings: Balance, beginning of year $1,478,000 642,000 $2,120,000 $27,720 244,280 Net income Preferred dividends Common dividends 272,000 Balance, end of year Total stockholders' equity Sales Interest expense Assuming that total assets were $5,706,000 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 1,848,000 $4,620,000 $33,379,200 $69,360 1.4 0.3