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Help on all parts would help so much! Problem 13-4A (Algo) Calculating financial statement ratios LO P3 Selected current year-end financial statements of Cabot Corporation
Help on all parts would help so much!
Problem 13-4A (Algo) Calculating financial statement ratios LO P3 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, $189,400, common stock, $85,000; and retained earnings, $33,028.) 23:30 ed DK Assets Cash Short-tern Investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, bet Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 8,200 Accrued wages payable 29,000 Incone taxes payable 38,150 Long-term note payable, secured by mortgage on plant assets 3,000 Connon stock 148,300 Retained earnings $ 242,650 Total liabilities equity $ 17,500 2,888 3,900 69,400 85,000 64,050 $ 242,650 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 451,600 Cost of goods sold 296,850 Gross profit 154,750 Operating expenses 98,900 Interest expense 3.900 Income before taxes 51,950 Income tax expense 20,928 Net Income $ 31,022 Required: Comide the following murrent ratin Arid testati invecainc nnllected (4) Inventory tumur 15 davanec in inventory Requieu. 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 equity. (Do not round Intermediate calculations.) Complete this question by entering your answers in the tabs below. Reg 6 Reg 7 Reg 8 Req 9 Reg 10 Reg 11 Reg 1 and 2 Reg 3 Req4 Reg 5 Compute the current ratio and acid-test ratio. (1) Current Ratio Denominator: Numerator: 1 Current Ratio Current ratio 0 to 1 (2) Acid-Test Ratio Denominator: Numerator = Acid-Test Ratio Acid-Test Ratio 0 to 1 1 Req3 > Step by Step Solution
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