Six Measures of Solvency or Profitability The following data were taken from the financial statements of Gates Inc. for the current fiscal year. $2,358,300 Property, plant, and equipment (net) Liabilities Current liabilities $224,000 1,123,000 Note payable, 6%, due in 15 years $1,347,000 Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $1,347,000 Common stock, $10 par (no change during year) 1,347,000 Retained earnings: Balance, beginning of year $1,436,000 574,000 Net income $2,010,000 Preferred dividends $53,880 160,120 214,000 Common dividends 1,796,000 Balance, end of year Total stockholders' equity $4,490,000 $30,731,400 Sales Chock My Work Previous Next Fomainia more Choek Mv Work u Common stock, $10 par (no change during year) 1,347,000 Retained earnings: Balance, beginning of year $1,436,000 574,000 Net income $2,010,000 Preferred dividends $53,880 Common dividends 160,120 214,000 Balance, end of year 1,796,000 Total stockholders' equity $4,490,000 $30,731,400 Sales $67,380 Interest expense Assuming that total assets were $5,545,000 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 Previous Next Chock My Worlk 2 m ro Choek My Aork ucoe romainina