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Please show steps to answers Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December
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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, $55,900; total assets, $239,400; common stock, $83,000; and retained earnings, $51,406.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450, 600 Cost of goods sold 298,450 Gross profit 152, 150 Operating expenses 99, 200 Interest expense 4,900 Income before taxes 48,050 Income tax expense 19,356 Net income $ 28,694 $ Assets Cash Short-term investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 20,000 Accounts payable 8,800 Accrued wages payable 33,400 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,850 Common stock 154,300 Retained earnings $ 253,500 Total liabilities and equity 17,500 3,600 2,900 66,400 Prepaid expenses Plant assets, net Total assets 83,000 80,100 $ 253,500 X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Req 4 Req 5 Req 6 Reg 7 Req 8 Req 9 Req 10 Req 11 Compute the debt-to-equity ratio. (6) Debt-to-Equity Ratio Choose Numerator: Choose Denominator: 1 1 Debt-to-Equity Ratio Debt-to-equity ratio 0 to 1 11 Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Reg 5 Req 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the times interest earned. (7) Times Interest Earned Choose Numerator: Choose Denominator: Times Interest Earned Times interest earned + II + 0 times Req 1 and 2 Req3 Req 4 Req 5 Reg 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the profit margin ratio. (8) Profit Margin Ratio Choose Numerator: Choose Denominator: Profit margin ratio Profit margin ratio 0 % = 11 Answer is not complete. 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 Choose Numerator: Choose Denominator: Total Asset Turnover Total asset turnover 1 1 = 0 times Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Reg 6 Req 7 Req 8 Req 9 Req 10 Req 11 Compute the return on total assets. (10) Return on Total Assets Choose Numerator: Choose Denominator: Return on Total Assets Return on total assets 1 1 0 %Step by Step Solution
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