Please answer all questions with explanations thx The following data were taken from the financial statements of Gates Inc. for the current fiscal year.Property, plant, and equipment (net)$1,725,000Liabilities:Current liabilities$150,000Note payable, 6%, due in 15 years750,000Total liabilities$900,000Stockholders' equity:Preferred $4 stock, $100 par (no change duringyear)$540,000Common stock, $10 par (no change during year)540,000Retained earnings:Balance, beginning of year$576,000Net income219,000 $795,000Preferred dividends$21,600Common dividends53,40075,000Balance, end of year720,000Total stockholders' equity$1,800,000Sales$11,846,250232$%&4578.9.´eyudfgCmaltctrl Balance, beginning of year$576,000Net income219,000 $795,000Preferred dividends$21,600Common dividends53,40075,000Balance, end of year720,000Total stockholders' equity$1,800,000Sales$11,846,250Interest expense$45,000Assuming that total assets were $2,565,000 at the beginning of the current fiscal year, determine the following. When required, round to onedecimal place.a. Ratio of fixed assets to long-term liabilities2.3b. Ratio of liabilities to stockholders' equity0.5c. Asset turnoverd. Return on total assetse. Return on stockholders' equity1. Return on common stockholders' equityvO 12:14DII%24%*backspac68eydkCVinaltctri

a) Calculate ratio of fixed assets to long-term liabilities: Fixed assets to long-term liabilities =…

Assuming that total assets were $2,565,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place. a. Ratio of fixed assets to long-term liabilities 2.3 b. Ratio of liabilities to stockholders' equity 0.5 c. Asset turnover d. Return on total assets e. Return on stockholders' equity 1. Return on common stockholders' equity