Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help, thank you so much CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 447,600 Cost of goods sold 298,150 Gross

please help, thank you so much image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 447,600 Cost of goods sold 298,150 Gross profit 149,450 Operating expenses 99,200 Interest expense 4,600 Incone before taxes 45,650 Income tax expense 18,190 Net income $ 27,260 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 20,000 Accounts payable 9,000 Accrued wages payable 28,800 Income taxes payable 42,150 Long-tern note payable, secured by mortgage on plant assets 3,000 Common stock 149,300 Retained earnings $ 252,250 Total liabilities and equity $ 19,500 3,400 3,200 67,400 Prepaid expenses plant assets, net Total asets 87,000 71,750 $ 252,250 Required: Compute the following: (1) current ratio. (2) acid-test ratio (3) days soles uncollected, (4) inventory turnover, (5) days' sales in inventory (6) debt-to equity ratio) times interest earned, (8) profit margin ratio, (9) total asset turnover (10) return on totol ossets, ond (11) return on common stockholders' equity (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Rega Reg 1 and 2 Reg4 Reg 5 Reg 6 Reg 2 Req Red 9 Reg 10 Reg 11 Compute the current ratio and acid-test ratio, (1) Current Ratio Choose Denominator: Choose Numerator: Current Ratio Current ratio 0 to 1 (2) Acid-Test Ratio Choose Denominator Choose Numerator Acid. Test Ratio Acid Test Ratio 0 to 1 (3) Days' Sales Uncollected 1 Choose Denominator: Days Choose Numerator: Days Sales Uncollected Days sales uncollected o days Inventory Turnover Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover O times 11 Days' Sales in Inventory 1 Choose Denominator: Choose Numerator: Days X Days' Sales in Inventory Days' sales in inventory o days X Debt-to-Equity Ratio 1 Choose Denominator: Choose Numerator: 11 Debt-to-Equity Ratio Debt-to-equity ratio Oto 1 Times Interest Eamed Choose Numerator: Choose Denominator: Times Interest Earned Times interest eamed O times + Choose Numerator: Profit Margin Ratio Choose Denominator: 1 11 11 / Profit margin ratio Profit margin ratio 0 % 11 Total Asset Turnover Choose Denominator: Choose Numerator: 1 1 1111 Total Asset Turnover Total asset turnover 0 times Choose Numerator: Return on Total Assets 1 Choose Denominator: 1 III Return on Total Assets Return on total assets 0 % Belum on Common Stockholders Equity Choose Denominator Choose Numerator = Return On Common Stockholders Equity = Return on common stockholders' equity OS 1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions