47 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, $52,900; total assets, $169,400; common stock, $83,000; and retained earnings, $31,179.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year $ 18,000 Liabilities and Equity Accounts payable 8,800 Accrued wages payable 29,800 Income taxes payable 30,150 Long-term note payable, secured by mo plant assets 2,550 Common stock 151,300 Retained earnings $240,600 Total liabilities and equity CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 453,600 Cost of goods sold 297,050 Gross profit 156,550 Operating expenses Interest expense Income before taxes Income tax expense Net income 99,300 4,800 52,450 21,129 $ 31,321 N 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.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Compute the current ratio and acid-test ratio. (1) Numerator: Current Ratio Denominator: (2) Acid-Test Ratio Numerator: Denominator: Current Ratio Current ratio to 1 Acid-Test Ratio Acid-Test Ratio to 1 Req 1 and 2 Req 3 > < Prev 15 of 15 www Mout /p Transaction Beginning Saved Current Assets Quick Assets Current Liabilities. $ 1,200,000 $ 622,222 $ May 21 May 2 Balance after May 2 1,200,000 May 8 May 8 Balance after May 8 May 10 May 10 Balance after May 10 May 15 May 15 Balance after May 15 May 17 May 17 Balance after May 17 May 22 May 22 Balance after May 22 May 26 May 261 Balance after May 26 May 27 May 27 Balance after May 27 May 28 May 28 Balance after May 28 May 29 May 29 Help Save & Exit Submit Current Ratio Acid-Test Ratio Working Capital 444,444 2.70 1.40 $ 755,556 444,444