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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) Liabilities: Current
The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) Liabilities: Current liabilities Note payable, 6%, due in 15 years Total liabilities Stockholders' equity: Preferred $10 stock, $100 par (no change during year) $3,200,000 $1,000,000 2,000,000 $3,000,000 $1,000,000 2,000,000 Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year Total stockholders' equity Sales Interest expense $1,570,000 930,000 (100,000) (400,000) 2,000,000 $5,000,000 $18,900,000 $120,000 Assuming that long-term investments totaled $3,000,000 throughout the year and that total assets were $7,000,000 at the beginning of the current fiscal year, determine the following. Round your answers 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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