Check my wol 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, $48,900, total assets, $259,400, common stock. $90,000; and retained earnings, $38.862) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 Cost of goods sold 298 150 Gross profit 150,450 Operating expenses 99,600 Interest expense 4,400 Income before taxes 46.450 Income tax expense 18,712 Net Income $ 27,738 $ Assets Cash Short-term investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 22,000 Accounts payable 9,000 Accrued wages payable 30,400 Income taxes payable 34,150 Long-tern note payable, secured by mortgage on plant assets 2,950 Common stock 148,300 Retained earnings $ 246,800 Total liabilities and equity 17.500 3,200 3,180 66,400 Prepaid expenses Plant assets, net Total assets 90,000 66,600 $ 246,800 Required: Compute the following: (1) current ratio, (2) acid-test ratio. (3) days' sales uncollected. (4) inventory turnover (5) days' sales in inventory (6) debt-to-equity ratio. (7) times interest earned, (8) profit margin ratio, (9) total asset turnover (10) return 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. Req 1 and 2 Reg 3 Req 4 Reg 5 Req 6 Reg 7 Req8 Reg 9 Reg 10 Reg 11 Compute the current ratio and acid-test ratio. (1) Choose Numerator: Current Ratio Choose Denominator: 1 Current Ratio Current ratio 0 to 1 1 (2) Choose Numerator: Acid Test Ratio Choose Denominator: 1 Acid-Test Ratio = Acid-Test Ratio Oto 1 Req3 > Complete this question by entering your answers in the tabs below. Req 1 and 2 Real Reg 4 Req 5 Req6 Req 7 Reg 8 Reg 9 Reg 10 Reg 11 Compute the days' sales uncollected. (3) Days' Sales Uncollected Choose Denominator: x Days Choose Numerator: 1 Days Sales Uncollected Days sales uncollected 1 0 days Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Reg 5 Req 6 Req 7 Req 8 Reg 9 Req 10 Reg 11 Compute the inventory turnover. (4) Choose Numerator: Inventory Turnover Choose Denominator: 1 Inventory Turnover Inventory turnover 0 times 1 Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Req 5 Req 6 Reg 7 Req B Reg 9 Reg 10 Reg 11 Compute the days' sales in inventory. (5) Choose Numerator: Days' Sales in Inventory Choose Denominator: 1 1 Days X Days' Sales in Inventory Days' sales in inventory 0 days 1 & Reg4 Req6 > Compute the following: (1) current ratio, (2) acid-test ratio. (3) days' sales uncollected (4) inventory turnover (5) days' sales in inventory. (6) debt-to-equity ratio, 7) times interest earned. (8) profit margin ratio (9) total asset turnover (10) return 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. Req? Reqs Rego Reg 10 Beq 11 Req 1 and 2 Reg 3 Reg 4 Reqs Req6 Compute the return on common stockholders' equity. Choose Numerator: Return on Common Stockholders' Equity 1 Choose Denominator 1 1 - Return On Common Stockholders' Equity = Return on common stockholders' equity 0 %
