Six Measures of Solvency or Profitability The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant,

Six Measures of Solvency or Profitability The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $2,037,000 Liabilities: Current liabilities $194,000 Note payable, 6%, due in 15 years 970,000 Total liabilities $1,164,000 Stockholders’ equity: Preferred $2 stock, $100 par (no change during year) $1,746,000 Common stock, $10 par (no change during year) 1,746,000 Retained earnings: Balance, beginning of year $1,862,000 Net income 610,000 $2,472,000 Preferred dividends $34,920 Common dividends 109,080 144,000 Balance, end of year 2,328,000 Total stockholders’ equity $5,820,000 Sales $40,176,050 Interest expense $58,200 Assuming that total assets were $6,635,000 at the beginning of the current fiscal year, determine the following: When required, round to one decimal place. d. Return on total assets % e. Return on stockholders’ equity % f. Return on common stockholders’ equity %

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