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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
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, $249,400; common stock, $80,000, and retained earnings, $37,069.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold $455,600 296,950 Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income 158,650 98,600 3,900 56,150 22,619 $ 33,531 Assets Cash $ Short-term investments) Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity 12,000 Accounts payable: 9,400 Accrued wages payable 33,000 Income taxes payable 36,150 Long-term note payable, secured by mortgage on plant assets $ 16,500 4,800 4,600 66,400 Prepaid expenses 3,050 Common stock 80,000 Plant assets, not Total assets 149, 300 Retained earnings 70,600 $ 242,900 Total liabilities and equity $ 242,900 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 stockholdere enuity (Do not round intermediate calculations) Hela
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