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) $1,300,500 Liabilities: $153,000 Current liabilities Note payable, 6%, due in 15 years 765,000 Total liabilities $918,000 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 $550,800 550,800 $588,000 253,000 $841,000 Net income Preferred dividends $11,016 Common dividends 95,584 106,600 Balance, end of year 734,400 Total stockholders' equity $1,836,000 Sales $11,814,000 Interest expense $45,900 Assuming that total assets were $2,616,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place. $550,800 550,800 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 $588,000 253,000 $841,000 $11,016 95,584 106,600 Balance, end of year 734,400 Total stockholders' equity $1,836,000 Sales $11,814,000 Interest expense $45,900 Assuming that total assets were $2,616,000 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 1.7 b. Ratio of liabilities to stockholders' equity 0.5 c. Asset turnover d. Return on total assets 11.1 % e. Return on stockholders' equity 14.4 18.6 f. Return on common stockholders' equity