The following data were taken from the financial statements of Gates Inc. for the current fiscal year Property, plant, and equipment (net) Liabilities $1,537,200 $172,000 Current liabilities Note payable, 6%, due in 15 years Total liabilities 854,000 $1,026,000 Stockholders' equity: $769,500 Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) 769,500 Retained carnings: $820,000 Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year Total stockholders' equity Sales Interest expense Assuming that total assets were $3,411,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal pla a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover 288,000 $1,108,000 $30,780 5 1,220 82,000 1,026,000 $2,565,000 $19,955,700 $51,240