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Accounting

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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 $83.000, and retained earnings, $36,312.) Saved CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 451,600 Cost of goods sold 298,250 Gross profit 153,350 Operating expenses 99,300 Interest expense Income before taxes 50,05e Income tax expense 20,162 Net income 29,888 $ $ 19,500 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 able 34,150 Long-tere note payable, secured by mortgage on plant assets 3,150 Cowon stock 153,300 Retained earnings $247,360 Total liabilities and equity 3,200 4.500 71.400 83,000 Prepaid expenses Plant assets, net Total assets $ 27,300 Required: Compute the following: (1) current ratio, (2) acid-test ratio. (3) days' sales uncollected (4) inventory turnover (5) days' sales in nventory (6) debt-to-equity ratio. (7) times interest eamed (8) profit margin ratio (9) total asset turnover og return on total assets and retum on common stockholders' equity (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Red Regs Reg. Reg 5 Reg 3 Regt Reg 1 and 2 Compute the debt-to-equity ratio. Deleto Equity Ratio Day Rate 1 perating expenses Interest expense Income before taxes Income tax expense Net income 153,350 99,300 4,000 50,05 20,162 $ 29,888 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 18,000 Accounts payable 9,490 Accrued vages payable 29,800 Incone taves payable 34,150 Long-term note payable, secured by mortgage on plant assets 3,150 Cowon stock 153,300 Retained earnings $ 247,800 Total liabilities and equity $ 19,500 3,200 4,500 71.400 83,000 66.200 $ 27,00 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 eamed, (8) profit margin ratio (9) total asset turnover Mo) return on total assets, and (19) return on common stockholders' equity. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Red Rego Reg 11 Peg 8 Reg 10 Reg 6 Reg 1 and 2 Reg 3 Regs Reg 4 Compute the times interest earned. Times Interest Earned Choose Denominator Choose Numerator: 2 C Reg 7

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