CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 296,850 Gross profit 157.750 Operating expenses 99, 100 Interest expense 4,900 Income before taxes 53,750 Income tax expense 21,653 Net income $ 32,097 $ Assets Cash Short-term investments Accounts receivable, nel Merchandise Inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 14,800 Accounts payable 8,400 Accrued wages payable 32.600 Income taxes payable 40,150 Long-term note payable, secured by mortgage un plant assets 2,600 Common stock 153.38e Retained earnings $ 251,050 Total liabilities and equity 17.500 3,200 4.400 72,400 Prepaid expenses Plant assets, net Total assets 3.ece 70.550 $ 251.050 Required: Compute the total asset turnover. (9) Total Asset Turnover Choose Denominator: Choose Numerator: 1 7 Total Asset Turnover Total asset turnover 0 times