Six Measures of Solvency or Profitability The following data were taken from the financial statements of...
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) $3,200,000 Liabilities: Current liabilities $1,000,000 Note payable, 6%, due in 15 years 2,000,000 Total liabilities $3,000,000 Stockholders’ equity: Preferred $10 stock, $100 par (no change during year) $1,000,000 Common stock, $10 par (no change during year) 2,000,000 Retained earnings: Balance, beginning of year $1,570,000 Net income 930,000 Preferred dividends (100,000) Common dividends...
Please help and show working. Thank You!
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)
$1,455,400
Liabilities:
Current liabilities
$152,000
Note payable, 6%, due in 15 years
766,000
Total liabilities
$918,000
Stockholders' equity:
Preferred $2 stock, $100 par (no change during year)
$1,377,000
Common stock, $10 par (no change during year)
1,377,000
Retained earnings:
Balance, beginning of year
$1,468,000
Net...
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) $1,792,000 Liabilities: Current liabilities $224,000 Note payable, 6%, due in 15 years 1,120,000 Total liabilities $1,344,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $2,016,000 Common stock, $10 par (no change during year) 2,016,000 Retained earnings: Balance, beginning of year $2,150,000 Net income 698,000 $2,848,000 Preferred dividends $80,640 Common...
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) $3,200,000 Liabilities: Current liabilities $1,000,000 Mortgage note payable, 6%, issued 2005, due 2021 2,000,000 Total liabilities $3,000,000 Stockholders’ equity: Preferred $10 stock, $100 par (no change during year) $1,000,000 Common stock, $10 par (no change during year) 2,000,000 Retained earnings: Balance, beginning of year $1,570,000 Net income 930,000 $2,500,000 Preferred dividends $100,000...
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) $1,026,800 Liabilities: Current liabilities $122,000 604,000 Note payable, 6%, due in 15 years Total liabilities $726,000 Stockholders' equity: $435,600 435,600 Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year $464,000 Net income 195,000 $659,000 Preferred dividends $17,424 60,776...
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) $852,600 Liabilities: Current liabilities $123,000 Note payable, 6%, due in 15 years 609,000 Total liabilities $732,000 Stockholders' equity: Preferred $2 stock, $100 par (no change during year) $549,000 Common stock, $10 par (no change during year) 549,000 Retained earnings: Balance, beginning of year $586,000 Net income 250,000 $836,000 Preferred dividends $10,980 Common...
Six Measures of Solvency or Profitability The following data were taken from the financial statements of Gates Inc. for the current fiscal year. $1,742,000 Property, plant, and equipment (net) Liabilities: Current liabilities $173,000 871,000 Note payable, 6%, due in 15 years $1,044,000 $783,000 783,000 Total liabilities Stockholders' equity: Preferred 54 stock, $100 par (no change during year) Common stock, $10 par (no change during year) Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends $1,147,000 5836,000 311,000...
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) $1,162,000 Liabilities: Current liabilities $166,000 Note payable, 6%, due in 15 years 830,000 Total liabilities $996,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $747,000 Common stock, $10 par (no change during year) 747,000 Retained earnings: Balance, beginning of year $796,000 Net income 291,000 $1,087,000 Preferred dividends $29,880 Common...
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) $1,715,400 Liabilities: Current liabilities $190,000 Note payable, 6%, due in 15 years 953,000 Total liabilities $1,143,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $1,714,500 Common stock, $10 par (no change during year) 1,714,500 Retained earnings: Balance, beginning of year $1,828,000 Net income 567,000 $2,395,000 Preferred dividends $68,580 Common...
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) $1,752,700 Liabilities: Current liabilities $205,000 Note payable, 6%, due in 15 years 1,031,000 Total liabilities $1,236,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $1,854,000 Common stock, $10 par (no change during year) 1,854,000 Retained earnings: Balance, beginning of year $1,978,000 Net income 804,000 $2,782,000 Preferred dividends $74,160 Common...