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Problem 17-4A Calculating financial statement ratios LO P3 Check my work 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, $47,900: total assets. $249,400, common stock. $86,000; and retained earnings, $44,292) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 Cost of goods sold 297,750 Gross profit 150,850 Operating expenses 99,400 Interest expense Income before taxes 46,650 Income tax expense 18,792 Net Income $ 27.858 4.800 CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity $ 18,000 Accounts payable 8,600 Accrued wages payable 33,800 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,500 Common stock 150,200 Retained earnings $ 247.350 Total liabilities and equity Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 17,500 3,400 2.900 65,400 36,000 72.150 $ 247.350 forences 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 (19) return on common stockholders' equity. (Do not round Intermediate calculations.) Complete this question by entering your answers in the tabs below

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