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The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) $2,412,700 Liabilities: Current
The following data were taken from the financial statements of Gates Inc. for the current fiscal year.
Property, plant, and equipment (net) | $2,412,700 | |||||
Liabilities: | ||||||
Current liabilities | $211,000 | |||||
Note payable, 6%, due in 15 years | 1,049,000 | |||||
Total liabilities | $1,260,000 | |||||
Stockholders' equity: | ||||||
Preferred $4 stock, $100 par (no change during year) | $756,000 | |||||
Common stock, $10 par (no change during year) | 756,000 | |||||
Retained earnings: | ||||||
Balance, beginning of year | $806,000 | |||||
Net income | 324,000 | $1,130,000 | ||||
Preferred dividends | $30,240 | |||||
Common dividends | 91,760 | 122,000 | ||||
Balance, end of year | 1,008,000 | |||||
Total stockholders' equity | $2,520,000 | |||||
Sales | $17,690,400 | |||||
Interest expense | $62,940 |
Assuming that total assets were $3,591,000 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 | % |
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