Business
Business, 23.07.2021 01:40, 20guadalupee73248

Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $49,900; total assets, $199,400; common stock, $82,000; and retained earnings, $45,290.) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash $ 22,000 Accounts payable $ 18,500 Short-term investments 9,400 Accrued wages payable 3,400 Accounts receivable, net 32,000 Income taxes payable 4,500 Merchandise inventory 38,150 Long-term note payable, secured by mortgage on plant assets 66,400 Prepaid expenses 2,800 Common stock 82,000 Plant assets, net 147,300 Retained earnings 76,850 Total assets $ 251,650 Total liabilities and equity $ 251,650 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,750 Gross profit 156,850 Operating expenses 99,400 Interest expense 4,600 Income before taxes 52,850 Income tax expense 21,290 Net income $ 31,560 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on equity. (Do not round intermediate calculations.)

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Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credi...

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