CABOT CORPORATION Income Statement For Year Ended December 31, 2015 451,600 Sales Cost of goods sold 298,350 Gross profit 153,250 Operating expenses 98,900 Interest expense 4,200 Income before taxes 50,150 Income taxes 20,202 29,948 Net income CABOT CORPORATION Balance Sheet December 31, 2015 Liabilities and Equity Assets 10,000 Accounts payable Cash Short-term investments 8,600 Accrued wages payable Accounts receivable, net 29,800 Income taxes payable Notes receivable (trade) 8,000 Long-term note payable, secured 32,150 Merchandise inventory by mortgage on plant assets 3,050 Common stock Prepaid expenses Plant assets, net 148,300 Retained earnings 239,900 Total liabilities and equity Total assets These are short-term notes receivable arising from customer (trade) sales. 17,500 4,400 3,100 64,400 82,000 68,500 239,900