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13 Homework Problem 13-4A (Algo) Calculating financial statement ratlos LO P3 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. $229,400; common stock. $86,000; and retained eamings. $22.174.) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash Accounts payable 3 18 See $18,000 19,200 Accrued wages payable 28,608 Income taxes payable Short-term investments Accounts receivable, net 3680 Bea Merchandise inventory 38,158 711480 Long-term note payable, secured by mortgage on plant assets Common stock 2.880 Prepaid expenses Plant assets, net 148,388 86,804 54,450 Retained earnings Total assets $ 237,858 Total liabilities and equity $ 237.85e CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,680 297 558 Cost of goods sold Gross profit 152,950 Operating expenses 98,788 4,300 Interest expense Income before taxes 54,050 21,774 Income tax expense Net income $ 32,276 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. (Do not round Intermediate calculations.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 Req 5 Reg 6 Rea 7 Reg 8 Req 9 Req 10 Req 11 Compute the days' sales in inventory. (5) Days Sales in Inventory Denominator Numerator: Days Sales in Inventory Days' sales in inventory 0 days 13 Homework Problem 13-4A (Algo) Calculating financial statement ratlos LO P3 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. $229,400; common stock. $86,000; and retained eamings. $22.174.) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash Accounts payable 3 18 See $18,000 19,200 Accrued wages payable 28,608 Income taxes payable Short-term investments Accounts receivable, net 3680 Bea Merchandise inventory 38,158 711480 Long-term note payable, secured by mortgage on plant assets Common stock 2.880 Prepaid expenses Plant assets, net 148,388 86,804 54,450 Retained earnings Total assets $ 237,858 Total liabilities and equity $ 237.85e CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,680 297 558 Cost of goods sold Gross profit 152,950 Operating expenses 98,788 4,300 Interest expense Income before taxes 54,050 21,774 Income tax expense Net income $ 32,276 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. (Do not round Intermediate calculations.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 Req 5 Reg 6 Rea 7 Reg 8 Req 9 Req 10 Req 11 Compute the days' sales in inventory. (5) Days Sales in Inventory Denominator Numerator: Days Sales in Inventory Days' sales in inventory 0 days