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Six Measures of Solvency or Profitability The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant,

Six Measures of Solvency or Profitability The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year.

Property, plant, and equipment (net) $933,600

Liabilities:

Current liabilities $155,000

Note payable, 6%, due in 15 years 778,000

Total liabilities $933,000

Stockholders' equity:

Preferred $2 stock, $100 par (no change during year) $559,800

Common stock, $10 par (no change during year) 559,800

Retained earnings:

Balance, beginning of year $598,000

Net income 229,000 $827,000

Preferred dividends $11,196

Common dividends 69,404 80,600

Balance, end of year 746,400

total stockholders' equity $1,866,000

Sales $11,461,800 Interest expense $46,680

Assuming that total assets were $2,659,000 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 fill in the blank 1

b. Ratio of liabilities to stockholders' equity fill in the blank 2

c. Asset turnover fill in the blank 3 d. Return on total assets fill in t

4 % e. Return on stockholders equity_________

5 % f. Return on common stockholders' equity _______ 6 %

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