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SLO Assignment 1 i 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, $249,400; common stock, $90,000; and retained earnings, $19,728.) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash $ 8,000 Accounts payable $ 18, 500 Short-term investments 8 , 600 Accrued wages payable 4, 000 Accounts receivable, net 33,000 Income taxes payable 3, 100 Merchandise inventory 34, 150 Long-term note payable, secured by mortgage on plant assets 72, 400 Prepaid expenses 2, 700 Common stock 90 , 000 Plant assets, net 152, 300 Retained earnings 50 , 750 Total assets $ 238,750 Total liabilities and equity $ 238, 750 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 453, 600 Cost of goods sold 298 , 450 Gross profit 155, 150 Operating expenses 99 , 000 Interest expense 4, 200 Income before taxes 51, 950 Income tax expense 20,928 Net income $ 31, 022 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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5 Req 6 Reg 7 Reg 8 Req 9 Req 10 Req 11 Compute the current ratio and acid-test ratio

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