please answer it before 12;00 Selected current year-end financial statements of Cabot Corporation follow. (All...
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Accounting
please answer it before 12;00
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, $52,900; total assets, $199,400; common stock, $84,000; and retained earnings, $37,234.)
CABOT CORPORATION | |||
Balance Sheet | |||
December 31 of current year | |||
Assets | Liabilities and Equity | ||
Cash | $ 10,000 | Accounts payable | $ 17,500 |
Short-term investments | 9,200 | Accrued wages payable | 3,200 |
Accounts receivable, net | 31,200 | Income taxes payable | 4,300 |
Merchandise inventory | 42,150 | Long-term note payable, secured by mortgage on plant assets | 71,400 |
Prepaid expenses | 3,000 | Common stock | 84,000 |
Plant assets, net | 150,300 | Retained earnings | 65,450 |
Total assets | $ 245,850 | Total liabilities and equity | $ 245,850 |
CABOT CORPORATION | |
---|---|
Income Statement | |
For Current Year Ended December 31 | |
Sales | $ 448,600 |
Cost of goods sold | 297,350 |
Gross profit | 151,250 |
Operating expenses | 99,500 |
Interest expense | 4,500 |
Income before taxes | 47,250 |
Income tax expense | 19,034 |
Net income | $ 28,216 |
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 equity.
Note: Do not round intermediate calculations.
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