Question: i need help with this question please Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit selected balance sheet amounts

i need help with this question please
i need help with this question please Selected current year-end financial statements

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. $199,400; common stock, $89,000; and retained earnings $28,608) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash $ 10,000 Accounts payable $ 16,500 Short-term investments 8,000 Accrued wages payable 3,000 Accounts receivable, net 32,000 Income taxes payable 3,500 Merchandise inventory 30,150 Long-term note payable, secured by mortgage on plant assets 64,400 Prepaid expenses 2,552 Common stock 89,000 Plant assets, net 151, 380 Retained earnings 57,600 Total assets $ 234,800 Total liabilities and equity $ 234,000 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450, 600 Cost of goods sold 297,750 Gross profit 152,850 Operating expenses 99,500 Interest expense 4,880 Income before taxes 48,550 Income tax expense 19,558 Net income $ 28,992 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. Reg 1 and 2 Reg 3 Reg 4 Reg 5 Reg 6 Reg 2 Reg 8 Reg 9 Reg 10 Reg 11

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!