CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 14,000 Accounts payable 9,600 Accrued wages payable 32,600 Income taxes payable 40,150 Long-term note payable, secured by mortgage on plant assets 2,600 Common stock 150,300 Retained earnings Total assets $ 249,250 Total liabilities and equity CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income Required: $ 452,600 297,250 155,350 99,100 4,300 51,950 20,928 $ 31,022 $ 16,500 3,600 2,900 69,400 82,000 74,850 $ 249,250