Sox Measures of Solvency or Profitability The following data were taken from the financiai statements of Gates Inc. for the current fiscal year. terest expense $61,500 isuming that total assets were $5,064,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place Feedback T Creck My Work a. Divide property, plant, and equipment (net) by long-term liabiities. b. Divide total liabilities by total stockholders'equity c. Divide sales by average total assets. Average total assets = (Beginning total assets + Ending total assets) +2 . To find ending total assets, use the accounting equation and substhute ending liabilitios + stockholders'equity for the amount. d. Divide the sum of net income plus interest expense by average total assets. Average total assets =( Beginning total assets + Ending total assets )+2. To find ending total assets, use the accounting equation and substitute ending liabilities + stockholders'equity for the amount. 5. Divide net income ty average total stockholders'equity. Average total stockholders'equity =( Beginning total stockholders'equity + Ending total stockholdersicquity +2 . 1. Divide net income minus preferred dividends by average common stockholders iequity Common stockholdersequity = Common stock + Rotained eamings Average common