The following data were taken from the financial statements of Gates Inc. for the current fiscal year.

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The following data were taken from the financial statements of Gates Inc. for the current fiscal year.

Assuming that total assets were $6,000,000 at the beginning of the current fiscal year, determine the following: 

(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, and 

(f) Return on common stockholders’ equity. Round ratios and percentages to one decimal place as appropriate.

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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