The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year.Property, plant, and equipment (net)$1,426,600Liabilities:Current liabilities$205,000Note payable, 6%, due in 15 years1,019,000Total liabilities$1,224,000Stockholders' equity:Preferred $4 stock, $100 par (no change during$1,224,000year)Common stock, $10 par (no change during year)1,224,000Retained earnings:Balance, beginning ofyear$1,306,000Net income571,000 $1,877,000Preferred dividends$48,960Common dividends196,040245,000Balance, end of year1,632,000Total stockholders' equity$4,080,000Sales$27,926,100Interest expense$61,140 Assuming that total assets were $5,039,000 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 liabilitiesb. Ratio of liabilities to stockholders' equityc. Asset turnoverd. Return on total assets%e. Return on stockholders' equity%f. Return on common stockholders' equity%

(a)Ratio of fixed assets to long-term liabilities = $1426600/$1019000= 1.4 times OR 140%(b)Ratio of…

Answered: ties: rent liabilities e payable, 6%,…

Business

Accounting

ties: rent liabilities e payable, 6%, due in 15 years al liabilities holders' equity:

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

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