Saved Help Save & Ex 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, $199,400; common stock, $81,000; and retained earnings, $26,348) Assets Cash Short-term investment Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $8,000 Accounts payable 8,200 Accrued wages payable 31,000 Income taxes payable 34,150 Long-term note payable, secured by mortgage on plant assets 2,700 Common stock 147,300 Retained earnings $231,350 Total liabilities and equity For Current Year Ended December 31 Sales $454,600 Cost of goods sold 298,350 Gross profit 156,250 Operating expenses 99,500 Interest expense 4,500 Income before taxes 52,250 Income tax expense 21,048 Net income $31,202 $ 15,500 3,400 4,500 69,400 81,000 57,550 $231,350 Net income Required: 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 4 Req 5 Req 6 Req 7 Req 8- Reg 9 Req 10 Req 11 Compute the current ratio and acid-test ratio. (1) Numerator Current Ratio Denominator: Current Ratio Current ratio to 1 (2) Acid Test Ratio Numerator: Denominator: Acid Test Ratio Acid-Test Ratio