These are due in 20 minutes so if you can do them in that time...

Six Measures of Solvency or Profitability The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) $1,652,000 Liabilities: Current liabilities $236,000 Note payable, 6%, due in 15 years 1,180,000 Total liabilities $1,416,000 Stockholders' equity: $1,062,000 Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) 1,062,000 Retained earnings: Balance, beginning of year $1,132,000 410,000 Net income $1,542,000 Preferred dividends $42,480 Common dividends 83,520 126,000 Balance, end of year 1,416,000 Total stockholders' equity $3,540,000 Sales $28,508,800 Interest expense $ 70,800 Assuming that total assets were $4,708,000 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 1.4 b. Ratio of liabilities to stockholders' equity 0.4 C. Asset turnover 6 d. Return on total assets % e. Return on stockholders' equity 11.6 X % f. Return on common stockholders' equity 2.4 X % Profitability Ratios East Point Retail, Inc. sells apparel through company-owned retail stores. Recent financial information for East Point follows (in thousands): Fiscal Year 3 Fiscal Year 2 Net income $146,400 $75,400 Interest expense 3,000 11,300 Fiscal Year 3 Fiscal Year 2 Fiscal Year 1 Total assets (at end of fiscal year) $1,286,849 $1,224,075 $1,087,925 Total stockholders' equity (at end of fiscal year) 1,079,299 1,057,927 781,097 Assume the apparel industry average return on total assets is 5.0% and the average return on stockholders' equity is 8.0% for the year ended February 2, Year 3. a. Determine the return on total assets for East Point for fiscal Years 2 and 3. Round percentages to one decimal place. Fiscal Year 3 % Fiscal Year 2 % b. Determine the return on stockholders' equity for East Point for fiscal Years 2 and 3. Round percentages to one decimal place. Fiscal Year 3 % Fiscal Year 2 % c. The return on stockholders' equity is greater than the return on total assets due to the positive use of leverage. d. During fiscal Year 3, East Point's results were strong compared to the industry average. These relationships suggest that East Point's has more leverage than the industry, on average