CABOT CORPORATION Income Statement For Year Ended December 31, 2015 Sales Cost of goods sold $455,600 297,150 Gross profit Operating expenses Interest expense 158,450 98,700 4,800 Income before taxes Income taxes 54,950 22,136 Net income $32,814 CABOT CORPORATION Balance Sheet December 31, 2015 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade)* Merchandise inventory Prepaid expenses Plant assets, net Liabilities and Equity Accounts payable Accrued wages payable Income taxes payable Long-term note payable, secured $18,500 4,400 4,200 $ 20,000 9,000 33,400 7,000 40,150 2,700 153,300 by mortgage on plant assets Common stock 70,400 86,000 82,050 Retained earnings Total assets $265,550 Total liabilities and equity $265,550 These are short-term notes receivable arising from customer (trade) sales