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The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $1,568,000Liabilities: Current liabilities
The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year.
Property, plant, and equipment (net) $1,568,000Liabilities: Current liabilities $224,000 Note payable, 6%, due in 15 years 1,120,000 Total liabilities $1,344,000Stockholders' equity: Preferred $2 stock, $100 par (no change during year) $2,016,000 Common stock, $10 par (no change during year) 2,016,000Retained earnings: Balance, beginning of year$2,150,000 Net income849,000 $2,999,000 Preferred dividends$40,320 Common dividends270,680 311,000 Balance, end of year 2,688,000Total stockholders' equity $6,720,000Sales $48,747,500Interest expense $67,200Assuming that total assets were $7,661,000 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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