Check my work 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 $189,400; common stock, $89,000; and retained earnings, $26,778.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 14,000 Accounts payable 9,000 Accrued wages payable 31,000 Income taxes payable 32,150 Long-term note payable, secured by mortgage on plant assets 2,950 Corrmon stock 152,300 Retained earnings $ 241,400 Total liabilities and equity $ 16,500 3,200 4,500 70,400 89,000 57,800 $ 241,400 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 453,600 Cost of goods sold 298,350 Gross profit 155,250 Operating expenses 99,500 Interest expense 3,800 Income before taxes 51,950 Income tax expense 20,928 Net income $ 31,022 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected (4) inventory turnover, (5) days' sales in inventory, Compute ine following: 11 current ratio, 14 acid-test ratio, 13 days sales uncollectea, 14 inventory turnover, 15 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 equity. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Reg 5 Reg 6 Req 7 Reg 8 Reg 9 Reg 10 Reg 11 Compute the current ratio and acid-test ratio. (1) Current Ratio Denominator: Numerator: = 7 / IIII Current Ratio Current ratio to 1 / (2) Acid-Test Ratio Denominator: Numerator: / = Acid-Test Ratio Acid-Test Ratio / II III to 1