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many thanks will upvote Selected current year-end financial statements of Cabot Corporation follow. All sales were on credit selected balance sheet amounts at December 31
many thanks will upvote
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, 552,900 total assets, $189.400, common stock $83,000; and retained earings, $33,321) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash $ 12,000 Accounts payable $ 19,500 Short-term investments 9,200 Accrued wages payable 3,200 Accounts receivable, net 30,800 Income taxes payable 4,200 Merchandise Inventory 36,150 Long-term note payable, secured by mortgage on plant assets 69,400 Prepaid expenses 2,850 Common stock 83,000 Pant assets, net 153,300 Retained earnings 65,000 Total assets 5. 244,300 Total liabilities and equity $ 244,300 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 453,600 Cost of goods sold 297,150 Gross profit 156,450 Operating expenses 99,200 Interest expense AX200 Income before taxes 53,950 Income tax expense 21,321 Tet Income $31.679 Required: Compute the following current ratio, 2) acid-test ratio, (3) days soles uncollected, (4) Inventory turnover (5) day sales in Inventory (6) debt-to-equity ratio) times interest earned, (8) profit margin ratio. (9) total asset turnover (10) return on total assets, and (1) return on equity (Do not round Intermediate calculations.) Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Regs Reg 4 Reg 6 Reg Reg 8 Reg 10 Reg 11 Reg 9 Compute the days' sales uncollected (3) Days Days Sales Uncollected Days: Sales Uncollected Numerator: Denominator: Accounts Receivable net (including current notes Net sales receivable from customers) 297 1503 $ 30 800 x 365 Days sales uncollected 365 3.521.4 days Compute the inventory turnover. (4) Numerator: Inventory Turnover Denominator: Inventory Turnover Inventory furnover 0 times X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 this Reg 6 Req 7 Reg 8 Reg 9 Reg 10 Reg 1 Compute the days sales in inventory (5) Days Sales in Inventory Numerator: Denominator: Days Days Sales in Inventory Days sales in inventory O days 1 1 and 2 Req3 Reg4 Reg 5 Reg 6 Req Rega Reg 9 Reg 10 Reg 11 Compute the times Interest earned. Times Interest Eamed Numerator: Denominator: Times Interest Earned Times Interest earned 0 mas ( Req6 Reqs > Your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Reg 5 Req 6 Reg 7 Reg 8 Reg 9 Reg Compute the profit margin ratio. (8) Profit Margin Ratio Denominator: Numeraton Profit margin ratio Profit margin ratio 0 96 Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Red 8 Reg 9 Reg 10 Compute the retum on total assets. (10) Numerator: Retum on Total Assets Denominator: Return on Total Assets Return on total assets 0 Compute the return on equity (11) Numerator: Retumon Equity Denominator Return On Equity Return on equity 0 % Step by Step Solution
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