The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year.
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Question:
The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year.
Property, plant, and equipment (net) | $877,800 | |||||
Liabilities: | ||||||
Current liabilities | $126,000 | |||||
Note payable, 6%, due in 15 years | 627,000 | |||||
Total liabilities | $753,000 | |||||
Stockholders' equity: | ||||||
Preferred $2 stock, $100 par (no change during year) | $1,129,500 | |||||
Common stock, $10 par (no change during year) | 1,129,500 | |||||
Retained earnings: | ||||||
Balance, beginning of year | $1,204,000 | |||||
Net income | 451,000 | $1,655,000 | ||||
Preferred dividends | $22,590 | |||||
Common dividends | 126,410 | 149,000 | ||||
Balance, end of year | 1,506,000 | |||||
Total stockholders' equity | $3,765,000 | |||||
Sales | $28,192,000 | |||||
Interest expense | $37,620 |
Assuming that total assets were $4,292,000 at the beginning of the current fiscal year, determine the following: When required, round to one decimal place.
a. Ratio of fixed assets to long-term liabilities | fill in the blank 1 |
b. Ratio of liabilities to stockholders' equity | fill in the blank 2 |
c. Asset turnover | fill in the blank 3 |
d. Return on total assets | fill in the blank 4% |
e. Return on stockholders’ equity | fill in the blank 5% |
f. Return on common stockholders' equity | fill in the blank 6% |
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