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, $56,900; total assets, $219,400; common stock, $88,000; and retained earnings. $26,363.) $ 12,000 CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity Accounts payable 9,200 Accrued wages payable 29,400 Income taxes payable 32,150 Long-term note payable, secured by mortgage on plant assets 2,950 Common stock 153,300 Retained earnings $239,000 Total liabilities and equity Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement 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 $ 448,600 297,550 151,050 99,300 4,800 46,950 18,913 $ 28,037 $ 17,500 3,200 4,500 71,400 88,000) 54,400 $ 239,000 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 Req 8 Req 9 Reg 10 Req 11 Compute the times interest earned. (7) Numerator: Income before tax + Interest expense Times Interest Earned Denominator: Times Interest Earned. Interest expense Times interest eamed 0 times