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Assignment
Six Measures of Liquidity or Profitability
The following data were taken from the financial statements of Whiting Enterprises Inc. for the current fiscal year. Assume that long-term investments totaled $1,000,000 for the past two years and that total assets were $14,400,000 at the beginning of the year.
Property, plant, and equipment (net) Liabilities:
$7,000,000
Current liabilities
$200,000
Mortgage note payable, 8%, ten-year note issued two years ago
5,000,000
Total liabilities
$ 5,200,000
Stockholders' equity:
Preferred S2 stock, 520 par (no change during year)
$ 3,000,000
Common stock, $2 par (no change during year)
500,000
Retained earnings:
Balance, beginning of year
$6,525,000
Net income
725,000
$7,250,000
Preferred dividends
$300,000
Common dividends
50,000
350,000
Balance, end of year
6,900,000
Total stockholders' equity
$10,400,000
Net sales
$36,400,000
Interest expense
$400,000
Determine the following: (a) ratio of fixed assets to long-term liabilities, (b) ratio of liabilities to stockholders' equity, (c) ratio of net sales to assets, (d) rate earned on total assets, (e) rate earned on stockholders' equity, and (f) rate earned on common stockholders' equity. Round to one decimal place.
a.
Ratio of fixed assets to long-term liabilities
b.
Ratio of liabilities to stockholders' equity
c.
Ratio of net sales to assets
d.
Rate earned on total assets
e.
Rate earned on stockholders' equity
f.
Rate earned on common stockholders' equity
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