Problem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation follow (All sales were on credit, selected balance sheet amounts at December 31, 2017 were inventory. 553,900, total assets $189,400, common stock, $82,000, and retained earnings. $49,395) points eBook CABOT CORPORATION Income Statement For Year Ended December 31, 2018 Sales $448,600 Cost of goods sold 297,25e Gross profit 151,350 Operating expenses 99,300 Interest expense 4,400 Income before taxes 47,650 Income tax expense 19,195 Net income $ 28,455 References Assets Cash Short-term investments CABOT CORPORATION Balance Sheet December 31, 2018 Liabilities and Equity $ 20,000 Accounts payable 9,200 Accrued wages payable $ 16,500 3,000 Problem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation follow (All sales were on credit, selected balance sheet amounts at December 31, 2017 were inventory. 553,900, total assets $189,400, common stock, $82,000, and retained earnings. $49,395) points eBook CABOT CORPORATION Income Statement For Year Ended December 31, 2018 Sales $448,600 Cost of goods sold 297,25e Gross profit 151,350 Operating expenses 99,300 Interest expense 4,400 Income before taxes 47,650 Income tax expense 19,195 Net income $ 28,455 References Assets Cash Short-term investments CABOT CORPORATION Balance Sheet December 31, 2018 Liabilities and Equity $ 20,000 Accounts payable 9,200 Accrued wages payable $ 16,500 3,000