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i need help with req 9-11 Check my work Selected current year-end financial statements of Cabot Corporation follow (All sales were on credit selected balance
i need help with req 9-11
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, $52,900, total assets, $229,400: common stock. $83,000; and retained earnings. $24,609.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 Cost of goods sold 297,950 Gross profit 152,650 Operating expenses 98,800 Interest expense 4,800 Income before taxes 49,050 Income tax expense 19,759 Net income $ 29,291 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 10,000 Accounts payable 9,00Accrued wages payable 29,200 Income taxes payable 32,150 Long-term note payable, secured by mortgage on plant assets 3,05@ Common stock 148,300 Retained earnings $ 231,700 Total liabilities and equity $ 19,500 4,000 3,900 67,400 Prepaid expenses Plant assets, net Total assets 83,000 53,900 $ 231,700 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. Step by Step Solution
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