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Six Measures of Solvency or Profitability...

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Accounting

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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: $1,250,600 $193,000 Current liabilities Note payable, 6%, due in 15 years Total liabilities 962,000 $1,155,000 Stockholders' equity: $1,155,000 Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) 1,155,000 Retained earnings: $1,232,000 Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year Total stockholders' equity Sales Interest expense 504,000 $1,736,000 $46,200 149,800 196,000 1,540,000 $3,850,000 $15,212,800 $57,720

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