LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Mc Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity 9,400 Accrued wages payable $ 16,000 Accounts payable 31,600 Income taxes payable 34,150 2,700 150,300 Long-term note payable, secured by mortgage on plant assets Common stock Retained earnings $ 244,150 Total liabilities and equity For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income Required: $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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. Note: Do not round intermediate calculations. Graw Hill Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the current ratio and acid-test ratio. (1) Numerator: (2) Numerator: 1 Current Ratio Denominator: Current Ratio Current ratio to 1 Acid-Test Ratio Denominator: = Acid-Test Ratio = Acid-Test Ratio to 1 < Req 1 and 2 Req 3 > Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Mc Graw Hill CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable $ 17,500 9,400 Accrued wages payable 3,000 31,600 Income taxes payable 3,400 34,150 Long-term note payable, secured by mortgage on plant assets 69,400 Common stock 87,000 Retained earnings 63,850 $ 244,150 CABOT CORPORATION Income Statement 2,700 150,300 $ 244,150 Total liabilities and equity For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the days' sales uncollected. (3) Days' Sales Uncollected Numerator: Denominator: Days 1 x 1 < Req 1 and 2 Req 4 > Days Sales Uncollected = Days sales uncollected days Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Mc Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Graw Hill Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 9,400 Accrued wages payable 31,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150,300 Retained earnings $ 244,150 Total liabilities and equity Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the inventory turnover. (4) Inventory Turnover Numerator: 1 Denominator: = Inventory Turnover Current liabilities 1 = Inventory turnover = times < Req 3 Req 5 > Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Mc Graw Hill Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 9,400 Accrued wages payable 31,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150,300 Retained earnings $ 244,150 Total liabilities and equity Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the days' sales in inventory. (5) Numerator: 1 Days' Sales in Inventory. Denominator: Days = Days' Sales in Inventory 365 = 1 = Days' sales in inventory 0 days < Req 4 Req 6 > Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Mc Graw Hill Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 9,400 Accrued wages payable 31,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150,300 Retained earnings $ 244,150 Total liabilities and equity Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the debt-to-equity ratio. (6) Numerator: 1 1 I Debt-to-Equity Ratio Denominator: = Debt-to-Equity Ratio = Debt-to-equity ratio = 0 to 1 < Req 5 Req 7 > Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Mc Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Graw Hill Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 9,400 Accrued wages payable 31,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150,300 Retained earnings $ 244,150 Total liabilities and equity Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the times interest earned. (7) Times Interest Earned Numerator: 1 Denominator: = Times Interest Earned + I = Times interest earned + 1 = 0 times < Req 6 Req 8 > Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Mc Graw Hill Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 9,400 Accrued wages payable 31,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150,300 Retained earnings $ 244,150 Total liabilities and equity Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the profit margin ratio. (8) Profit Margin Ratio Numerator: I Denominator: = Profit margin ratio = Profit margin ratio 1 = 0 % < Req 7 Req 9 > Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Mc Graw Hill Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 9,400 Accrued wages payable 31,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150,300 Retained earnings $ 244,150 Total liabilities and equity Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the total asset turnover. (9) Total Asset Turnover Numerator: 1 Denominator: = Total Asset Turnover 1 Total asset turnover = 0 times < Req 8 Req 10 > Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Mc Graw Hill Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 9,400 Accrued wages payable 31,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150,300 Retained earnings $ 244,150 Total liabilities and equity Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the return on total assets. (10) Numerator: 1 1 1 Return on Total Assets Denominator: = Return on Total Assets Return on total assets 0% < Req 9 Req 11 > Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work LTI Launch -0 M Question 1 - Final Exam (P 13- Course Hero ChatGPT G On January 15, Ross Furniture X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation... Q Final Exam (P 13-4) Not Proctored Saved 1 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, $51,900; total assets, $229,400; common stock, $87,000; and retained earnings, $32,410.) eBook Mc Graw Hill Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 16,000 Accounts payable 9,400 Accrued wages payable 31,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150,300 Retained earnings $ 244,150 Total liabilities and equity Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 453,600 297,750 155,850 98,800 4,400 52,650 21,210 $ 31,440 $ 17,500 3,000 3,400 69,400 87,000 63,850 $ 244,150 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 equity. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the return on equity. (11) Numerator: Return on Equity. Denominator < Req 10 = = Req 11 > Return On Equity Return on equity 0% Prev 1 of 1 --- Next > Finish update: Help Save & Exit Submit Check my work