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 $1,801,800 Current liabilities Note payable, 6%, due in 15 years Total liabilities $171,000 858,000 $1,029,000 Stockholders' equity Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) $1,543,500 1,543,500 Retained earnings Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year $1,646,000 486,000 $2,132,000 $61,740 74,000 12,260 2,058,000 $5,145,000 $27,689,700 $51,480 Total stockholders' equity Sales Interest expense Assuming that total assets were $5,865,000 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 1.8 $1,029,000 Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) $1,543,500 1,543,500 Retained earnings Balance, beginning of year $1,646,000 486,000 $2,132,000 Net income Preferred dividends $61,740 Common dividends 12,260 74,000 2,058,000 $5,145,000 $27,689,700 $51,480 Balance, end of year Total stockholders' equity Sales Interest expense Assuming that total assets were $5,865,000 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 1.8 0.2