Ch 13 HW 1 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. $55,900 total assets, $259,400, common stock, $82,000, and retained earnings, $41,002) 100 point eBook CASOT CORPORATION Incon Statement For Current Year Ended December 31 Sales $ 450, 60 Cost of goods sold 297, 350 Gross profit 153,250 Operating expenses 98,700 Interest expense Income before taxes se, 15e Income tax expense 20,202 Net Income $ 29,948 Print mo References 5 Assets 16, See 1,500 Short-term investments Accounts receivable net Merchandise inventory Prepaid expenses lant assets, het Totalt CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity 5 10,000 Accounts payable 5,600 Accrued wages payable 29,60 Incone taxes payable 36,150 Long-tera note payable, secured by wortgage on plant assets 2. Common stock 1500 Retained earnings 3,55 Total liabilities and equity 2,000 0. Required: Compute the following is current ratio. 12) acid-test ratio. (3) days' sales uncollected. (4) inventory tumover. (5) days sales in inventory (6) debt-to-equity ratio. (7) times interest earned, (8 profit margin ratio (9) total ostetturnovec (10) return on total assets and return on common stockholders' equity (Do not round Intermediate calculations.) Complete this question by entering your answers in the tabs below. Required: Compute the following: (1) current ratio. (2) acid-test ratio, (3) days' sales uncollected (4) Inventory turnover. (5) days' sales in inventor (6) debt-to-equity ratio, (7) times Interest earned. (8) profit margin ratio (9) total asset turnover (10) retum on total assets, and (11) return on common stockholders' equity. (Do not round Intermediate calculations.) Complete this question by entering your answers in the tabs below. Book Reg 1 and 2 Reg 3 Req4 Reg 5 Reg 6 Reg 7 Reg 8 Reg 9 Reg 10 Req 11 Print Compute the current ratio and acid-test ratio, (11 erences Current Ratio Choose Denominator Choose Numerator Current Ratio Current ratio to 1 20 Adidatestati Choose Denominator Choose Numerator M Adid Test Ratio Ad-Test 101 Req3 > ommon stoc at December 31 of the prior year were inventory, $55,900, total assets, $259,400, $41,002) CADOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450, 600 Cost of goods sold 297, 350 Gross profit 153,250 Operating expenses 98,700 Interest expense 4,400 Income before taxes 50,150 Income tax expense 20, 202 Net income 29,948 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity 1e,eee Accounts payable 9,600 Accrued wages payable 29,600 Income taxes payable 36,150 Long-term note payable, secured by mortgage on plant assets 2,900 Common stock 150.300 Retained earnings $ 238,550 Total liabilities and equity $ 16,500 3,200 3,500 62,4ee Prepaid expenses Plant assets, net 82,08 79,95 $ 238,550 Total assets Required