subject
Business, 25.03.2020 03:59 nuna37

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, $56,900; total assets, $189,400; common stock, $90,000; and retained earnings, $43,151.)

CABOT CORPORATION
Income Statement
For Year Ended December 31, 2015
Sales $450,600
Cost of goods sold 297,750
Gross profit 151,350
Operating expenses 98,600
Interest expense 4,100
Income before taxes 48,650
Income taxes 19,598
Net income $29,052

CABOT CORPORATION
Balance Sheet
December 31, 2015

Assets Liabilities and Equity
Cash $10,000 Accounts payable $17,500
Short-term investments 8,400 Accrued wages payable 3,200
Accounts receivable, net 29,200 Income taxes payable 3,300
Notes receivable (trade)* 4,500 Long-term note payable, secured
Merchandise inventory 32,150 by mortgage on plant assets 63,400
Prepaid expenses 2,650 Common stock 90,000
Plant assets, net 153,300 Retained earnings 62,800
Total assets $240,200 Total liabilities and equity $240,200
* These are short-term notes receivable arising from customer (trade) sales.

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 common stockholders' equity.
(Do not round intermediate calculations.)

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 22:30
Owning a word is a characteristic of a powerful a. productb. servicec. organization d. brand
Answers: 2
question
Business, 22.06.2019 17:00
Oliver is the vice president of production at his company and has been managing the launch of new software systems. he worked with a team of individuals who were tasked to create awareness about a specific product and also to approach potential purchasers of the product. which department managers were part of oliver’s team?
Answers: 3
question
Business, 23.06.2019 01:30
Determine allison's december 31, 2018, investment in mathias balance.
Answers: 2
question
Business, 23.06.2019 07:50
Anew joint command and control system is being developed to meet the strategic information needs of all the military services. the air force is the lead service, but the army and navy have different points of view about what functions the system should perform. which one of the software acquisition best practices would be most relevant in managing this issue as the program office undertakes system development?
Answers: 3
You know the right answer?
Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credi...
Questions
question
Mathematics, 12.03.2020 00:53
question
Mathematics, 12.03.2020 00:53
question
Mathematics, 12.03.2020 00:53
Questions on the website: 13722362