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, $239,400; common stock, $81,000; and retained earnings,

$47,333.)

Assets

CABOT CORPORATION

Balance Sheet December 31 of current year

Liabilities and Equity

$18,000 Accounts payable 9,400 Accrued wages payable

33,400 36,150

Income taxes payable Long-term note payable, secured by mortgage on plant assets

2,750 Common stock

150,300 Retained earnings

$ 250,000

Total liabilities and equity

$16,500 4,200

Cash

Short-term investments Accounts receivable, net

Merchandise inventory

Prepaid expenses

Plant assets, net

4,500 66,400

81,000

77,400

Total assets

$250,000

CABOT CORPORATION

Income Statement For Current Year Ended

December 31

Sales

$451,600 297,250

Cost of goods sold

Gross profit Operating expenses

154,350 99,200

Interest expense

4,800

Income before taxes

50,350

Income tax expense

20,283

Net income

$30,067

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 equity

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, $239,400; common stock, $81,000; and retained earnings, $47,333. 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 equity. Note: Do not round intermediate calculations