CUplte this question by entering your answers in the tabs below. / Req 101 | Req Req 8 Req 9 Req 1 and 21 Req 5. Req 3 Req 4 Req 6 Req 7 mpute the return on total assets Return on Total Assets Choose Denominator: 1 Average total assets (10) Return on Total Assets Return on total assets Choose Numerator Net income 12.41% 32,038 258,750 2017:$ Req 11 > K Req 9 Poblem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; sele December 31, 2016, were inventory, $56,900; total assets, $169,400; common stock, $81,000; and points CABOT CORPORATION Income Statement For Year Ended December 31, 2017 03:01:11 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income taxes Net income $ 455,600 298,350 157,250 99,400 4,200 53,650 21,612 32,038 eBook Print References CABOT CORPORATION Balance Sheet Liabilities and Equity Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade)* Merchandise inventory $20,000 Accounts payable 17,500 8,200 Accrued wages payable 3,800 29,000 Income taxes payable 3,400 64,400 81,000 6,000 40,150 Long-term note payable, secured by mortgage on plant assets 3,100 Common stock Prepaid expenses Plant assets,net Total assets 152, 300 Retained earnings $258,750 Total liabilities and equity 88,650 s 258,750 These are short-term notes receivable arising from customer (trode) sales