Check my wo Problem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit, selected balance sheet amounts at December 31, 2016, were inventory, $55,900; total assets, $199,400; common stock, $89,000; and retained earnings. $46,619.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 454,600 Cost of goods sold 298,550 Gross profit 156,050 Operating expenses 99,6ee Interest expense 3,90 Income before taxes 52,550 Income taxes 21,169 Net income $ 31,381 CABOT CORPORATION Balance Sheet December 31, 2017 Liabilities and Equity 20,eee Accounts payable 9,eee Accrued wages payable 32,600 Income taxes payable $ Assets Cash Short-term investments Accounts receivable, net $ 16,5ee 3,600 4,4ee Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Req 4 Req 5 Req Req 7 Req 8 Reg 9 Compute the inventory turnover. Choose Numerator: Inventory Turnover 1 Choose Denominator: / Inventory Turnover Inventory turnover O times s 2017: 1 Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Reg 5 Req6 Reg 7 Req 8 Reg 9 Reg 10 R Compute the days' sales in inventory. (5) Choose Numerator: 1 Days' Sales in Inventory Choose Denominator: Days X / Days' Sales in Inventory Days' sales in inventory 0 days 2017: