The following data were taken from the financial statements of Gates Inc. for the current fiscal year Property, plant, and equipment (net) Liabilities: $3,200,000 Current liabilities Note payable, 6%, due in 15 years Total liabilities $1,000,000 2,000,000 $3,000,000 Stockholders' equity: Preferred $10 stock, $100 par (no change during year) $1,000,000 Common stock, $10 par (no change during year) 2,000,000 Retained earnings: Balance, beginning of year $1,570,000 Net income 930,000 $2,500,000 Preferred dividends $100,000 400,000 Common dividends 500,000 Balance, end of year Total stockholders' equity Sales Interest expense Assuming that total assets were $7,000,000 at the beginning of the current fiscal year, determine the following. Round to one dec a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover 2,000,000 $5,000,000 $18,750,000 $120,000 1.6 0.6 2.5 14 | V % d. Return on total assets e. Return on stockholders' equity f. Return on common stockholders' equity 19.44 | X % 10.96 X %