Six Measures of Solvency or Profitability The following data were taken from the financial statements of...
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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) Liabilities: Current liabilities Note payable, 6%, due in 15 years Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year Total stockholders' equity Sales Interest expense $1,289,400 $183,000 921,000 $1,104,000 $828,000 828,000 $884,000 335,000 $1,219,000 $33,120 81,880 115,000 1,104,000 $2,760,000 $23,735,250 $55,260 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: Current liabilities Note payable, 6%, due in 15 years Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year Total stockholders' equity Sales Interest expense $1,289,400 $183,000 921,000 $1,104,000 $828,000 828,000 $884,000 335,000 $1,219,000 $33,120 81,880 115,000 1,104,000 $2,760,000 $23,735,250 $55,260
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