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This is part 2 of another question I posted earlier. Link is - https://www.chegg.com/homework-help/questions-and-answers/apologize-1-question-numerous-parts-didn-t-want-split-separate-questions-confuse-others-q26405120 This part is part 6-11. Selected year-end financial statements of Cabot
This is part 2 of another question I posted earlier. Link is - https://www.chegg.com/homework-help/questions-and-answers/apologize-1-question-numerous-parts-didn-t-want-split-separate-questions-confuse-others-q26405120
This part is part 6-11.
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balanoe sheet amounts at December 31, 2014, were inventory, S53,900; total assets, $199,400; common stock, 588,000; and retained earnings, 344,392.) CABOT CORPORATION Income Statement For Year Ended December 31, 2015 Sales Cost of goods sold S453,600 298,850 Gross profit Operating expenses Interest expense 158,750 98,800 4,600 Income before taxes Income taxes 53,350 21,492 Net income S 31,858 CABOT CORPORATION Balance Sheet December 31, 2015 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) S 18,000 9,200 32,200 000 38,150 2,800 151,300 Liabilities and Equity Accounts payable Accrued Income taxes payable Long-term note payable, secured S 17,500 4,800 4,700 wages payable 5, Prepaid expenses Plant assets, net by mortgage on plant assets Common stod Retained earnings 83,400 88,000 76,250 Total assets S254,650 Total liabilities and equity S254,650 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, (8) 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.)Step by Step Solution
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