G Chapter 14 HW C C Cengag... C S 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) Liabilities: $2,232,000 Current liabilities Note payable, 6%, due in 15 years Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year Total stockholders' equity Sales $222,000 1,116,000 $1,338,000 $802,800 802,800 $856,000 385,000 $1,241,000 $32,112 138,488 170,600 1,070,400 $2,676,000 $9,723,150 Interest expense $66,960 Assuming that long-term investments totaled $2,007,000 throughout the year and that total G