The following data were taken from the financial statements of Whiting Enterprises Inc. for the current fiscal year. Assuming that long-term investments totaled $1,000,000 for the past two years and that total assets were $14,400,000 at the beginning of the year, determine the following:

(a) Ratio of fixed assets to long-term liabilities,

(b) Ratio of liabilities to stockholders’ equity,

(c) Ratio of net sales to assets,

(d) Rate earned on total assets,

(e) Rate earned on stockholders’ equity, and

(f) Rate earned on common stockholders’ equity. Round to one decimalplace.

Transcribed Image Text:

7,000,000 Property, plant, and equipment (net) Liabilities: Current liabilities 200,000 5,000,000 Mortgage note payable,896, issued 2010, due 2020 Total liabilities 55,200,000 Stockholders' equity: Preferred $2 stock, $20 par (no change during year) Common stock, $2 par (no change during year) Retained earnings: 3,000,000 500,000 Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year 6,525,000 725,000 $7,250,000 300,000 50,000 350,000 Total stockholders'equity Net sales Interest expense 6,900,000 $10400,000 36,400,000 400,000