Homework Help is Here – Start Your Trial Now!
Business
Accounting
CABOT CORPORATION Balance Sheet CABOT CORPORATION December 31 of Current Year Income Statement For Current Year Ended December 31 Llabilitles and Equity Accounts payable...... Assets Cash..... $ 10,000 $ 17,500 $448,600 Sales .... Short-term investments .. Cost of goods sold . Gross profit..... Operating expenses... Interest expense.. 8,400 Accrued wages payable... 3,200 297,250 Accounts receivable, net. 33,700 Income taxes payable 3,300 151,350 Merchandise inventory... Prepaid expenses.. Plant assets, net.. 32,150 Long-term note payable, secured by mortgage on plant assets..... Common stock.... 98,600 2,650 63,400 4,100 153,300 90,000 Income before taxes..... 48,650 Retained earnings 62,800 $240,200 Income tax expense.. 19,598 Total assets. $240,200 Total liabilities and equity Net income $ 29,052

CABOT CORPORATION Balance Sheet CABOT CORPORATION December 31 of Current Year Income Statement For Current Year Ended December 31 Llabilitles and Equity Accounts payable...... Assets Cash..... $ 10,000 $ 17,500 $448,600 Sales .... Short-term investments .. Cost of goods sold . Gross profit..... Operating expenses... Interest expense.. 8,400 Accrued wages payable... 3,200 297,250 Accounts receivable, net. 33,700 Income taxes payable 3,300 151,350 Merchandise inventory... Prepaid expenses.. Plant assets, net.. 32,150 Long-term note payable, secured by mortgage on plant assets..... Common stock.... 98,600 2,650 63,400 4,100 153,300 90,000 Income before taxes..... 48,650 Retained earnings 62,800 $240,200 Income tax expense.. 19,598 Total assets. $240,200 Total liabilities and equity Net income $ 29,052

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter24: Analysis Of Financial Statements
Section: Chapter Questions
Problem 10SPA: RATIO ANALYSIS OF COMPARATIVE FINANCIAL STATEMENTS Refer to the financial statements in Problem...
See similar textbooks
icon
Related questions
Question

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, $48,900; total assets,
$189,400; common stock, $90,000; and retained earnings, $33,748. 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.
Round to one decimal place; for part 6, round to two decimals. 

CABOT CORPORATION Balance Sheet CABOT CORPORATION December 31 of Current Year Income Statement For Current Year Ended December 31 Llabilitles and Equity Accounts payable...... Assets Cash..... $ 10,000 $ 17,500 $448,600 Sales .... Short-term investments .. Cost of goods sold . Gross profit..... Operating expenses... Interest expense.. 8,400 Accrued wages payable... 3,200 297,250 Accounts receivable, net. 33,700 Income taxes payable 3,300 151,350 Merchandise inventory... Prepaid expenses.. Plant assets, net.. 32,150 Long-term note payable, secured by mortgage on plant assets..... Common stock.... 98,600 2,650 63,400 4,100 153,300 90,000 Income before taxes..... 48,650 Retained earnings 62,800 $240,200 Income tax expense.. 19,598 Total assets. $240,200 Total liabilities and equity Net income $ 29,052
Transcribed Image Text:CABOT CORPORATION Balance Sheet CABOT CORPORATION December 31 of Current Year Income Statement For Current Year Ended December 31 Llabilitles and Equity Accounts payable...... Assets Cash..... $ 10,000 $ 17,500 $448,600 Sales .... Short-term investments .. Cost of goods sold . Gross profit..... Operating expenses... Interest expense.. 8,400 Accrued wages payable... 3,200 297,250 Accounts receivable, net. 33,700 Income taxes payable 3,300 151,350 Merchandise inventory... Prepaid expenses.. Plant assets, net.. 32,150 Long-term note payable, secured by mortgage on plant assets..... Common stock.... 98,600 2,650 63,400 4,100 153,300 90,000 Income before taxes..... 48,650 Retained earnings 62,800 $240,200 Income tax expense.. 19,598 Total assets. $240,200 Total liabilities and equity Net income $ 29,052
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 6 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
SEE MORE TEXTBOOKS