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, $55,900; total assets, $169,400; common stock, $90,000; and retained earnings, $22,080.) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash $ 12,000 Accounts payable $ 18,500 Short-term investments 8,400 Accrued wages payable 3,400 Accounts receivable, net 32,000 Income taxes pay