Very important please be correct thank you need all 11 required Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheetamounts at December 31 of the prior year were inventory, $54,900; total assets, $189,400; common stock, $89,000; andretained earnings, $30,196.)AssetsCashShort-term investmentsAccounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assetsCABOT CORPORATIONIncome StatementFor Current Year Ended December 31Sales$ 451,600Cost of goods sold297,650Gross profit153,95098,9003,800Operating expensesInterest expense$ 10,0008,60029,80040,1502,550149,300$ 240,400Income before taxes.Income tax expenseNet income51,25020,646$ 30,604CABOT CORPORATIONBalance SheetDecember 31 of current yearLiabilities and EquityAccounts payableAccrued wages payableIncome taxes payableLong-term note payable, secured by mortgage on plant assetsCommon stockRetained earningsTotal liabilities and equity$ 17,52,83,966,489,060,8$ 240,4 Required:Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales ininventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on totalassets, and (11) return on equity. (Do not round intermediate calculations.)Complete this question by entering your answers in the tabs below.Req 1 and 2 Req 3(1)Compute the current ratio and acid-test ratio.(2)Numerator:Req 4Numerator:111Req 5111Req 6Current RatioDenominator:Acid-Test RatioDenominator:< Req 1 and 2Req 7=====Req 8Req 9Current RatioCurrent ratioto 1Acid-Test RatioAcid-Test Ratioto 1Req 3 >Req 10Req 11

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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, $54,900; total assets, $189,400; common stock, $89,000; and retained earnings, $30,196.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 451,600 Cost of goods sold 297,650 Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 10,000 8,600 29,800 40,150 2,550 149,300 $ 240,400 Total liabilities and equity 153,950 98,900 3,800 CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity 51,250 20,646 $ 30,604 Accounts payable Accrued wages payable Income taxes payable Long-term note payable, secured by mortgage on plant assets Common stock Retained earnings $ 17,5 2,8 3,9 66,4 89,0 60,8 $ 240,4

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, $54,900; total assets, $189,400; common stock, $89,000; and retained earnings, $30,196.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 451,600 Cost of goods sold 297,650 Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 10,000 8,600 29,800 40,150 2,550 149,300 $ 240,400 Total liabilities and equity 153,950 98,900 3,800 CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity 51,250 20,646 $ 30,604 Accounts payable Accrued wages payable Income taxes payable Long-term note payable, secured by mortgage on plant assets Common stock Retained earnings $ 17,5 2,8 3,9 66,4 89,0 60,8 $ 240,4

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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