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 $52,900, total assets. $199.400, common stock, $88,000, and retained earnings, $34,148) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales 5 452,600 Cost of goods sold 297,550 Gross profit 155,050 Operating expenses 99,900 Interest expense 3,900 Income before taxes 52,250 Income tax expense 21,048 Not income $ 31,202 Anots Canh short-term investments Accounts receivable, not Merchandise inventory CAROT CORPORATION Balance sheet December 31 abilities and Equity $ 22,000 Accounts payable 0.400 ccrued wagos payable 29,400 Income taxes payable 36,150 Long to note payable, secured by mortgage on plant assets 3,100 Colon stock 142,300 Retained earnings $ 246,350 Total liabilities and equity 5 17,500 3,000 3,300 68,400 Prepaid expenses plant assets, net Total att 00,000 65,350 5.246,350 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 calculations.) Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg Regt Regs Reg Red 7 Reg 8 Reg. Reg 10 Reg 11 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, $52.900, total assets, $199.400, common stock. $88,000, and retained earnings $34148) CABOT CORPORATION Income statement Por Current Year Ended December 31 Sales $ 452.600 Cost of goods sold 297,550 Gross profit 155,050 Operating expenses 98,900 Interest expense 3,900 Income before taxes 52, 250 Income tax expen 21,048 Net income $ 31,202 Assets Cash Short-term investments Accounts receivable, not Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 22,000 Accounts payable B, 400 Accrued wages payable 29.400 Income taxes payable 36,150 Long-term note payable, secured by mortgage on plant assets 3,100 Common stock 147.300 Retained earnings $ 246,350 Total liabilities and equity 5 17.500 3,800 J, 300 68,400 Prepaid expenses plant assets, net Total aseta 39.000 65,350 $ 246,350 Required: Compute the following (1) current ratio. (2) acid test ratio (3) days' soles uncollected (4) Inventory turnover (5) days' sales in inventory (6) debt to equity ratio) times interest earned (8) profit margin rotlo (9) total osset turnover (10) return on total assets, and (11) retum on common stockholders' equity (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Regs Reg4 Reqs Reg 6 Req7 Regs Req9 Reg 10 Req-11
