Problem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation follow. (All sales were December 31, 2016, were inventory, $47,900, total assets, $189,400; common stock, $83,000; and retained earnings, $46,542.) on credit; selected balance sheet amounts at CABOT CORPORATION Income Statement For Year Ended December 31, 2017 $ 454,600 297,85e 156,750 99,000 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes 4,400 53,350 21,492 Income taxes Net income 31,858 CABOT CORPORATION Balance Sheet December 31, 2017 Assets Liabilities and Equity Cash $ 8,200 Accrued wages payable 33,000 Accounts payable 20,000 17,500 3,400 Short-term investments Accounts receivable, net Notes receivable (trade) Merchandise inventory Income taxes payable 3.80 6,eee 32,150 Long-tern note payable, secured by 63,400 mortgage on plant assets Conmon stock Prepaid expenses Plant assets, net 2,850 83,000 78,400 Retained earnings Total liabilities and equity 147,300 $ 249,see Total assets $ 249,500 These are short-term notes receivable arising from customer (trade) sales. 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.) Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inve (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) on common stockholders' equity. (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 Reg 8 Req 9 Req 10 Req 11 Compute the current ratio and acid-test ratio. (1) Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio 2017: to 1 (2) Acid-Test Ratio Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-Test Ratio 2017: to 1 Req 3>