mi Saved Help Save & Exit Submit 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, $52,900; total assets, $169,400; common stock, $83,000; and retained earnings, $31,179.). Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 18,000 Accounts payable $ 19,500 8,800 Accrued wages payable 3,000 29,800 Income taxes payable 3,200 30,150 Long-term note payable, secured by mortgage on 69,400 plant assets 2,550 Common stock 83,000 151,300 Retained earnings 62,500 $ $240,600 Total liabilities and equity 240,600 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 453,600 Cost of goods sold 297,050 Gross profit 156,550 Operating expenses Interest expense Income before taxes Income tax expense 99,300 4,800 52,450 21,129 Net income $ 31,321 Required: Income before taxes Income tax expense Net income Required: 52,450 21,129 $ 31,321 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 Req 41 Req 5 Req 6 Req 7 Req B Req 9 Req 10 Reg 11 Compute the current ratio and acid-test ratio. (1) Numerator: 1 1 (2) Numerator: Current Ratio Denominator: Acid-Test Ratio Denominator: Current Ratio = Current ratio to 1 Acid-Test Ratio Acid-Test Ratio to 1