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The following data were taken from the financial statements of Gates Inc. for the current fiscal year. $1,474,000 Property, plant, and equipment (net) Liabilities: Current
The following data were taken from the financial statements of Gates Inc. for the current fiscal year. $1,474,000 Property, plant, and equipment (net) Liabilities: Current liabilities $134,000 670,000 Note payable, 6%, due in 15 years Total liabilities $804,000 $1,206,000 1,206,000 Stockholders' equity: Preferred $4 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 $1,771,000 $1,286,000 485,000 $48,240 114,760 163,000 Balance, end of year 1,608,000 $4,020,000 Total stockholders' equity Sales $25,869,250 Interest expense $40,200 Assuming that total assets were $4,583,000 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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