Problem 13-4A Calculating financial statement ratios 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, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748. CABOT CORPORATION Balance Sheet December 31 of Current Year Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Accrued wages payable Income taxes payable $ 10,000 8,400 33,700 32,150 2,650 153,300 $240,200 $ 17,500 3.200 3.300