Question
The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) $862,400 Liabilities: Current
The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) $862,400 Liabilities: Current liabilities $122,000 Note payable, 6%, due in 15 years 616,000 Total liabilities $738,000 Stockholders' equity: Preferred $2 stock, $100 par (no change during year) $442,800 Common stock, $10 par (no change during year) 442,800 Retained earnings: Balance, beginning of year $472,000 Net income 188,000 $660,000 Preferred dividends $8,856 Common dividends 60,744 69,600 Balance, end of year 590,400 Total stockholders' equity $1,476,000 Sales $9,281,550 Interest expense $36,960 Assuming that total assets were $2,103,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place.
- Ratio of fixed assets to long term liabilities
- Ratio of liabilities to stockholders equity
- Asset Turnover
- Return on total assets
- Return on stockholders equity
- Return on common stockholders equity
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