Problem 17-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation follow (All sales were on credit, selected balance sheet amounts at December 31, 2014, were inventory, $47,900; total assets, $189,400; common stock, $82,000, and retained eamings, $29,125.) CABOT CORPORATION Income Statement For Year Ended December 31, 2015 455,600 Sales 297.250 Cost of goods sold 158,350 Gross profit 98.900 Operating expenses 4,900 Interest expense 54,550 Income before taxes 21,975 Income taxes 32,575 Net income