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Ch 17-3 Exercises and The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) $2,380,400 Current liabilities $217,000 1,082,000 Total liabilities $1,299,000 change during year) $1,948,500 1,948,500 Preferred $2 stock, $100 par (no Common stock, $10 par (no change during year) Balance, beginning of year Net income Preferred dividends Common dividends $2,078,000 687,000 $2,765,000 $38,970 128,030 167,000 2,598,000 $6,495,000 $50,913,300 $64,920 Total stockholders' equity Sales Assuming that total assets were $7,404,000 at the beginning of the current fiscal year, determine the following. a. Ratio of fxed assets to long-term liabilities eck My Work Assignment Score: 48.91% 1,948,500 Retained earnings year $2,078,000 Net income 687,000 $2,765,000 $38,970 128,030 167,000 Balance, end of year 2,598,000 $6,495,000 $50,913,300 $64,920 Sales Interest expense Assuming that total assets were $7,404,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place. b. Ratio of liabilities to stockholders' equity turnover d. Return on total assets equity 2 more Check My Work uses gnment Score: 48.91% O Type here to search ALIE N WAR E

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