Problem 13-4A Calculating financial statement ratios LO P3 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, $53,900; total assets, $229,400; common stock, $84,000; and retained earnings, $45,379.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $452,600 Cost of goods sold 297,550 Gross profit 155,050 Operating 98,700 expenses Interest expense 3,900 Income before 52,450 taxes Income tax 21, 129 expense Net income $ 31, 321 CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 18,000 Accounts payable 8,800 Accrued wages payable $ 19,500 3,600 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory 3,800 65,400 30,200 Income taxes payable 40,150 Long-term note payable, secured by mortgage on plant assets 2,550 Common stock 153,300 Retained earnings $253,000 Total liabilities and equity Prepaid expenses Plant assets, net Total assets 84,000 76,700 $253,000 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.)