er $13$ Homework

Problem $13-4$A $($Algo$)$ Calculating financial statement ratios LO P$3$

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, $$49,900$; total assets, $$199,400$; common stock, $$88,000$; and retained earnings, $$27,505.)$

$\backslash$table$[[\backslash$table$[[$CABOT CORPORATION$],[$Balance Sheet$],[$December $31$ of current year$]]],[$Assets$,,$Liabilities and Equity,$],[$Cash$,$$ $18,000,$Accounts payable,$ $16,500],[$Short$-$term investments,$8,400,$Accrued wages payable,$3,800],[$Accounts receivable, net,$31,200,$Income taxes payable,$4,700],[$Merchandise inventory,$32,150,$Long$-$term note payable, secured by mortgage on plant assets,$68,400],[$Prepaid expenses,$2,550,$Common stock,$88,000],[$Plant assets, net,$149,300,$Retained earnings,$60,200],[$Total assets,$ $241,600,$Total liabilities and equity,$ $241,600]]$

$\backslash$table$[[$CABOT CORPORATION$],[$Income Statement$],[$For Current Year Ended December $31,],[$Sales$,$$$455,600$