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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) $1,060,800 Liabilities: Current liabilities $162,000 Note payable, 6%, due in 15 years 816,000 Total liabilities $978,000 $1,467,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: 1,467,000 Balance, beginning of year $1,564,000 Net income 490,000 $2,054,000 Preferred dividends $58,680 Common dividends 39,320 98,000 Balance, end of year 1,956,000 $4,890,000 Total stockholders' equity Sales $32,612,550 Interest expense $48,960 Assuming that total assets were $5,575,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place. Assuming that total assets were $5,575,000 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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