MUI 9 bucu) 1 Saved Help Save & Ch. 13 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, $51,900; total assets, $179,400; common stock, $82,000, and retained earnings, $35,587) CABOT CORPORATION 0.88 points eBook Print Income Statement For Current Year Ended December 31 Sales $ 453,600 Cost of goods sold 297,850 Gross profit 155,750 Operating expenses 99,300 Interest expense 4.600 Income before taxes 51,850 Income tax expense 20,887 Net income $ 30,963 References Assets Cash Short-term investments Accounts receivable, net Merchandise inventory CABOT CORPORATION Balance Sheet December 31 Li lities and Equity $ 10,000 Accounts payable 9,400 Accrued wages payable 31,200 Income taxes payable 36,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 150, 300 Retained earnings $ 239,750 Total liabilities and equity $ 10,500 4,400 3,900 64,400 Prepaid expenses Plant assets, net Total asseto 82.000 66.550 $ 239,750 Gr Hill Next 13 of 13 13 of 13 Next Next 13 of 13 !!!