Problem 13-4A (Algo) Calculating financial statement ratios 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, $199,400; common stock, $82,000; and retained earnings. $29,141.) Assets Cashi Short-term investments: Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION $ 12,000 CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity Accounts payable 9,000 Accrued wages payable 31,000 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,600 Common stock 150, 300 Retained earnings $239,050 Total liabilities and equity. $ 19,500 2,800 3,500 72,400 82,000 58,850 $239,050 Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses $ 451,600 298,450 153,150 98,600 Interest expense Income before taxes Income tax expense Net income Required: 4,800 49,750. 20,041 $29,709 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