Eetraga wwwa 2021: cols at Accu Question 1- Ch13 STEPS Homework - Connect Homework Saved Help Save & Exit Submit Check my work 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 $51,900; total assets. $209,400, common stock. $85,000; and retained earnings. $28,836.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 455,600 Cost of goods sold 297,950 Gross profit 157, 650 Operating expensen 98,800 Interest expense 3,900 Income before taxes 54,950 Income tax expense 22,136 Net income $ 32,814 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net etal assets CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 12,000 Accounts payable 8,000 Acerued wages payable 29,800 Income taxes payable 36,150 Long-term note payable, secured by mortgage on plant assets 2,900 Common stock 153,300 Retained earnings 5 242,150 Total 11abilities and equity $ 16,500 4,600 4,000 70,400 85.000 61,650 $ 242,150 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected. (4) inventory turnover. (5) days' sales in Inventory (6) Prey 1 o 1 Next Check my work 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 Req5 Reg 6 Req 7 Req 8 Reg 9 Reg 10 Reg 11 Compute the current ratio and acid-test ratio, Choose Numerator: 1 Current Ratio Choose Denominator: Current liabilities Current assets 1 Current Ratio Current ratio O to 1 1 (2) Acid-Test Ratio Choose Denominator: Choose Numerator: 1 Acid-Test Ratio Acid-Test Ratio 0 to 1 1 = Reg 3 > Prev 1 of 1 II Next MacBook Air