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ix 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) $1,973,400 Liabilities Current liabilities $180,000 Note payable, 6%, due in 15 years 897,000 Total liabilities $1,077,000 Stockholders eqity: Preferred $4 stock, $100 par (no change during year) $646,200 Common stock, $10 par (no change during year) 646,200 Retained earnings: Balance, beginning of year $690,000 Net income 338,000 $1,028,000 Preferred dividends $25,848 Common dividends 140,552 166,400 Balance, end of year 861,600 Total stockholders' equity $2,154,000 Sales $7,056,400 Interest expense $53,820 Assuming that long-term investments totaled $1,616,000 throughout the year and that total assets were $3,069,000 at the beginning of the current fiscal year, determine t following. When required, round to one decimal place 861,600 Total stockholders' equity $2,154,000 ) Sales $7,056,400 Interest expense $53,820 Assuming that long-term investments totaled $1,616,000 throughout the year and that total assets were $3,069,000 at the beginning of the current fiscal year, determine the folowing. When required, round to one decimal place. a.Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders" equity e. Asset turnover d. Return on total assets e. Return on stockholders'equity f. Return on common stockholders' equity

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