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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) $2,207,800 Liabilities: Current liabilities $233,000 Note payable, 6%, due in 15 years 1,162,000 Total liabilities $1,395,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) $1,046,250 1,046,250 Retained earnings: Balance, beginning of year $1,116,000 Net income 499,000 $1,615,000 Preferred dividends $41,850 Common dividends 178,150 220,000 Balance, end of year 1,395,000 Total stockholders' equity $3,487,500 Sales $21,421,125 Interest expense $69,720 Assuming that total assets were $4,638,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place. Assuming that total assets were $4,638,000 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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