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Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2014, were inventory, $54,900; total
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2014, were inventory, $54,900; total assets, $229,400; common stock, $88,000; and retained earnings, $50,670.) CABOT CORPORATION Income Statement For Year Ended December 31, 2015 Sales Cost of goods sold $451,600 298,450 Gross profit Operating expenses Interest expense 153,150 98,800 4,900 Income before taxes Income taxes 49,450 19,920 Net income $ 29,530 CABOT CORPORATION Balance Sheet December 31, 2015 Liabilities and Equity Accounts payable Accrued Income taxes payable Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade)* Merchandise inventory Prepaid expenses Plant assets, net $ 20,000 31,000 30,150 9,400 8,000 ong-term note payable, s 3,050 $15,500 3,800 3,000 wages payable red by mortgage on plant assets Common stock 63,400 88,000 80,200 152,300 Retained earnings Total assets $253,900 Total liabilities and equity $253,900 These are short-term notes receivable arising from customer (trade) sales 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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