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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, $49,900; total assets, $249,400, common stock, $81,000; and retained earnings, $44,026.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 447,600 Cost of goods sold 297,150 Gross profit 150,450 Operating expenses 98,500 Interest expense 4,100 Income before taxes 47,850 Income tax expense 19,276 Net income $ 28,574 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 16,000 Accounts payable 9,000 Accrued wages payable 30,800 Income taxes payable 38,150 Long-term note payable, secured by mortgage on plant as 2,750 Common stock 150,300 Retained earnings $ 247,000 Total liabilities and equity $ 18,500 3,000 3,500 68,400 81,000 72,600 $ 247,000 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.)
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