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The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $2,457,400 Liabilities:
The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $2,457,400 Liabilities: Current liabilities $224,000 Note payable, 6%, due in 15 years 1,117,000 Total liabilities $1,341,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $2,011,500 Common stock, $10 par (no change during year) 2,011,500 Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends 2.682,000 Balance, end of year Total stockholders' equity $5,705.000 $32,949,000 Sales $2,146,000 665,000 $2,811,000 $80.460 48,540 129,000 Interest expense $67,020 Assuming that total assets were $7,644,000 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 8 d. Return on total assets 1% e. Return on stockholders' equity 86 1. Return on common stockholders equity
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