Question
What is the Average Total Assets, Average Total Inventory, Preferred Dividends, and Average Common Stockholders Equity ?? please show how with steps Selected current year-end
What is the Average Total Assets, Average Total Inventory, Preferred Dividends, and Average Common Stockholders Equity ?? please show how with steps
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, $49,900; total assets, $229,400; common stock, $89,000; and retained earnings, $33,215.)
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.)
CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 451,600 Cost of goods sold 297,350 Gross profit 154,250 Operating expenses 99,100 Interest expense 4,100 Income before taxes 51,050 Income tax expense 20,565 Net income $ 30,485 $ Assets Cash Short-term investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity 8,000 Accounts payable 8,480 Accrued wages payable 33,000 Income taxes payable 38,150 Long-term note payable, secured by mortgage on plant assets 2,650 Common stock 151,300 Retained earnings $ 241,500 Total liabilities and equity 17,500 5,000 2,900 63,400 Prepaid expenses Plant assets, net Total assets 89,000 63,700 $ 241,500Step by Step Solution
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