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$)$

Liabilities:

Current liabilities

Note payable, $6\%,$ due in $15$ years

Total liabilities

Stockholders' equity:

Preferred $$2$ stock, $$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

$$1,924,700$

$[$$$202,000],[1,013,000]$

$$1,215,000$

$$911,250$

$$911,250$

$911,250$

Assuming that total assets were $$4,040,000$ 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 $.$

$\backslash$table$[[1,215,000$