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Accounting

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Saved 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, $55.900 total assets, S249400; common stock $83,000, and retained earnings $36,312) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 451,600 Cost of goods sold 298, 250 Gross profit 153, 35e Operating expenses 99, 300 Interest expense 4.000 Income before taxes 50,050 Income tax expense 20,162 Net Income $ 29,888 Assets Cash Short-tern Investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 18,000 Accounts payable 9,400 Accrued wages payable 29,800 Income taxes payable 34,150 Long-tern note payable, secured by mortgage on plant assets 3,150 Connon stock 153,300 Retained earnings $ 247,800 Total liabilities and equity 19,500 3,200 4,5 71,400 Prepaid expenses Plant assets, net Total assets 66.24 $ 247,860 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected. (4) inventory tumover. (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 Reg 10 R9 Reg 11 Reg 3 Rego Reg4 Reg 7 Reg 1 and 2 Reg 5 Compute the current ratio and acid-test ratio. (1) Current Ratio Denominator Current Ratio ceivable, net Merchandise inventory 19,500 3,200 4,560 71,400 Pued wages payable 29,800 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 3,150 Common stock 153,300 Retained earnings $ 247,800 Total liabilities and equity Prepaid expenses Plant assets, net Total assets 83,000 66,200 $ 247,800 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. Reg 1 and 2 Req3 Reg 4 Reg 5 Reg 6 Req? Req8 Req9 Req 10 Reg 11 Compute the current ratio and acid-test ratio. (1) Current Ratio Choose Denominator: Choose Numerator: 1 Current Ratio Current ratio 0 to 1 (2) Acid-Test Ratio Choose Denominator: Choose Numerator: 1 Acid-Test Ratio Acid-Test Ratio 1 = 1 0 to 1 Reg1 and Req3 > $ 29,888 Income berol Income tax expense Net Income Otso 09 $ 19,5 3,2 4,5 71,40 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 18,000 Accounts payable 9,400 Accrued wages payable 29,800 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 3,150 Common stock 153,300 Retained earnings $ 247,800 Total liabilities and equity 83, ee 66, 2e $ 247,80 Prepaid expenses Plant assets, net Total assets Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected. inventory turr 16) debt-to-equity ratio. 7) times interest earned (8) profit margin ratio (9) total asset turnover, (10) retu on common stockholders' equity. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Red 1 and 2 Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Req 8 Compute the days' sales uncollected Reg 9 Reg 1 Choose Numerator Days' Sales Uncollected Choose Denominator: Days 1 Days Sales Uncollected Days sales uncollected x Prex 2 of 7 Next

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