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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
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, $50,900; total assets, $199,400; common stock, $82,000; and retained earnings, $29,340.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 10,000 CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity Accounts payable 8,600 Accrued wages payable 29,600 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,500 Common stock 153,300 Retained earnings Total assets $ 238,150 Total liabilities and equity CABOT CORPORATION Income Statement $ 16,500 4,800 3,400 68,400 82,000 63,050 $ 238,150 For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income Required: $ 456,600 296,950 159,650 98,700 4,500 56,450 22,740 $ 33,710 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. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below
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