[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. 2815 $ 229,500 141, 120 79,388 29,106 18, 382 X KORDIN COMPANY Comparative Income statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales $ 414,761 $ 317,741 Cost of goods sold 249,686 199,859 Gross profit 165, 075 117,882 Selling expenses 58,896 43.848 Administrative expenses 37,328 27,961 Total expenses 96,224 71, 809 Income before taxes 63,851 46,073 Income taxes 12,886 9,445 Net income $ 56.945 S 36,628 01:59:03 47,408 31.972 eBook 6,490 S 25,482 2016 2015 5 37,341 KORB IN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 Assets Current assets $ 47,728 Long-term investments Plant assets, net 86,637 Total assets $ 136,365 Liabilities and Equity Current liabilities $ 19,999 Common stock 69,00 Other paid-in capital 8,625 Retained earnings 38,831 Total liabilities and equity $ 136,365 $ 49,916 3.788 56,010 $ 109,706 94,674 $ 132,415 $ 19,730 69,000 8,625 35,060 $132.15 $ 19,199 51,900 5.667 33,840 $ 109,706 2. Complete the below table to calculate Income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 1:58:43 Dok KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit, selected balance sheet amounts at December 31, 2016, were inventory. $52,900, total assets, $209,400; common stock, $86,000, and retained earnings, $31,553.) points CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 55.60e Cost of goods sold 298,25e Gross profit 157.35 Operating expenses 99, 2ee Interest expense 4,400 Income before taxes 53, 750 Income taxes 21,653 Net income 32, e97 8 01:57:55 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) Merchandise inventory CABOT CORPORATION Balance Sheet December 31, 2017 Liabilities and Equity 18, eee Accounts payable 9,480 Accrued wages payable 31,600 Income taxes payable 5,500 30,150 Long-term note payable, secured by mortgage on plant assets 2,888 common stock 151,300 Retained earnings $ 248,750 Total liabilities and equity 18,500 4,000 4,200 72,400 Prepaid expenses Plant assets, net Total assets 86,000 63,650 $ 248,75e *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.) 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) retum 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. Req 1 and 2 Reg 3 Req 4 Reg 5 Reg 6 Req 7 Reg 8 Reg 9 Reg 10 | Reg 11 Compute the days' sales uncollected. Choose Numerator: Days' Sales Uncollected Choose Denominator: Days Days Sales Uncollected Days sales uncollected 2017: Reg 1 and 2 Reg 4 > 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. Req 1 and 2 Reg 3 Reg 4 Reg 5 Req 6 Req 7 Reg 8 Req 9 Req 10 Req 11 Compute the inventory turnover. Choose Numerator: Inventory Turnover Choose Denominator: Inventory Turnover Inventory turnover 2017: Reg 3 Req 5 > 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. Req 1 and 2 Reg 3 Req 4 Reg 5 Reg 6 Reg 7 Reg 8 Req 9 Req 10 Req 11 Compute the debt-to-equity ratio. (6) Debt-to-Equity Ratio Choose Denominator: Choose Numerator: Debt-to-Equity Ratio Debt-to-equity ratio 2017: to 1