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, 2016, were inventory, $56,900; total assets, $199,400; common stock, $83,000, and retalned earnings, $39,969.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income taxes Net income $ 456, 600 159,250 98,700 4.400 56,150 22,619 $ 33,531 CABOT CORPORATION Balance Sheet December 31, 2017 Liabilities and Equity Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade)* Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 14,000 Accounts payable S 16,500 3,400 4,700 9,000 Accrued wages payable 31,200 Income taxes payable 7,000 30,150 Long-term note payable, secured by mortgage on 63,400 plant assets 2,850 Common stock 159, 300 Retained earnings s 244,50 Total liabilities and equity 83,000 73, 500 $ 244, 500 * These are short-term notes recelvable 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 calculatlons.)