Selected year-end financial statements of Cabot Corporation follow. (All sales were on credi; selected balance sheet amounts at December 31, 2016, were inventory, $51,900, total assets, $199,400, common stock, $87,000, and retained earnings, $37,115) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 456,600 Cost of goods sold 297950 Gross profit 158.650 Operating expenses 99,200 Interest expense 4.80 Income before taxes 54,650 Income taxes 22,015 Net Income 5 32,635 $ Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) Merchandise inventory 17.500 3,200 3,200 CABOT CORPORATION Balance Sheet December 31, 2017 Liabilities and Equity $ 18,000 Accounts payable 8,400 Accrued wages payable 32,200 Income taxes payable 6,600 32,150 Long-term note payable, secured by mortgage on plant assets 3,000 Common stock 148,380 Retained earnings 67,400 87,000 69,750 Prepaid expenses Plant assets, net CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 456, 600 Cost of goods sold 297,950 Gross profit 158, 650 Operating expenses 99,20 Interest expense 4,800 Income before taxes 54,650 Income taxes 22,015 Net income $ 32,635 $ 17,500 3,200 3,200 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade)* Merchandise inventory CABOT CORPORATION Balance Sheet December 31, 2017 Liabilities and Equity $ 18,600 Accounts payable 8,480 Accrued wages payable 32,200 Income taxes payable 6,080 32,150 Long-term note payable, secured by mortgage on plant assets 3,000 Common stock 148,309 Retained earnings $ 248,050 Total liabilities and equity 67,400 Prepaid expenses Plant assets, net Total assets 87,000 69,750 $ 248, 050 Complete this question by entering your answers in the tabs below. Heg 5 Reg 1 and Reg 3 Regt Red Rog 10 ROB Reg 11 Reg Comput Reg 1 and 2 ratio and acid-test ratio. Choo Numerator Choose Denominator 1 Current Ratio Current ratio oto 1 2017: 1 2) Acid Test Ratio Choose Denominator Choose Numerator: Acid Test Ratio Add-Test Ratio 0 to 1 2017: Region Req3 > Req 1 and 2 www Ren 3 Reg 4 Reg 5 Req 6 Req 7 Req 8 Reg 9 Reg Compute the days' sales uncollected. (3) Dasys Sales Uncollected Choose Denominator Days Choose Numerator: Days Sales Uncollected Days sales uncollected 2017: X 0 days Complete this question by entering your answers in the tabs below. w Reg 1 and 2 Req3 CERERE Req 4 Reg 5 Reg 6 Reg 7 Reg 8 Reg 9 Reg 10 Compute the inventory turnover, / Intory love Inventory turnover O times 2017: / on common stockholders' equity. (Do not round Intermediate cu Compte this question by entering your answers in the tabs below Reg 11 Reg 6 Rea9 Reg? Reg 10 Reg4 Reqs Red 1 and 2 Rai lega Compute the days sales in Inventory Choc Numerator They Sales In Inventory Chose Denominato Days X Days Sales in Inventory Days' sales in inventory 0 days X 2017: