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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 $240000 throughout the year and total assets were $2525000 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)............................................ $1200000Liabilities:Current liabilities................................................................. $60000Mortgage note payable, 8%, issued 1997, due 2013....... 825000Total liabilities..................................................................... $885000Stockholders' equity:Preferred $9 stock, $100 par (no change during year).... $250000Common stock, $20 par (no change during year)........... 800000Retained earnings:Balance, beginning of year................................................ $600000Net income.......................................................................... 216000 $816000Preferred dividends........................................................... $22500Common dividends........................................................... 57600 $80100Balance, end of year......................................................... 735900Total stockholders' equity............................................................ $1785900Net sales........................................................................................... $3600000Interest expense.............................................................................. $66000
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