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The following data were taken from the financial statements of Bendax Enterprises Inc. for the current fiscal year. Assuming that long-term investments totaled $240,000 throughout the year and that total assets were $2,525,000 at the beginning of the year, 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.
Property, plant, and equipment (net)
$1,200,000
Liabilities:
Current liabilities
$60,000
Mortgage note payable, 8%, issued 1997, due 2013
825,000
Total liabilities
$885,000
Stockholders' equity:
Preferred $9 stock, $100 par (no change during year)
$250,000
Common stock, $20 par (no change during year)
800,000
Retained earnings:
Balance, beginning of year
$600,000
Net income
216,000
$816,000
Preferred dividends
$22,500
Common dividends
57,600
80,100
Balance, end of year
735,900
Total stockholders' equity
$1,785,900
Net sales
$3,600,000
Interest expense
$66,000
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