Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance
Posted: Thu May 19, 2022 1:54 pm
- Selected Current Year End Financial Statements Of Cabot Corporation Follow All Sales Were On Credit Selected Balance 1 (169.1 KiB) Viewed 44 times
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150, 300 Retained earnings $ 246,500 Total liabilities and equity Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 5 $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense 4,700 Income before taxes 53,550 Income tax expense 21,572 Net income $ 31,978 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 Req3 Req 4 4 Req 5 Reg 6 Req 7 Req 8 Reg 9 Req 10 Req 11 Compute the days' sales uncollected. (3) Days' Sales Uncollected 1 Denominator: Numerator: X Days Days Sales Uncollected 1 X Days sales uncollected / X days < Req 1 and 2 Req 4 >
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150,300 Retained earnings $ 246,500 Total liabilities and equity $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense 4,700 Income before taxes Income tax expense 21,572 Net income $ 31,978 53,550 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 Reg 4 Reg 5 Req 6 Reg 7 Req 8 Reg 9 Req 10 Req 11 Compute the inventory turnover. (4) Inventory Turnover Denominator: Numerator: 1 Inventory Turnover Inventory turnover times < Req3 Req 5 >
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150,300 Retained earnings $ 246,500 Total liabilities and equity $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense 4,700 Income before taxes 53,550 Income tax expense 21,572 Net income $ 31,978 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. Reg 1 and 2 Reg 3 Reg 4 Req 5 Req 6 Reg 7 Reg 8 Req9 Req 10 Reg 11 Compute the days' sales in inventory. (5) Days' Sales in Inventory Denominator: Numerator: 1 X Days = Days' Sales in Inventory Days' sales in inventory / X / x = days < Req 4 Req 6 >
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) Assets Cash Short-term investments - Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150,300 Retained earnings $ 246,500 Total liabilities and equity $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense 4,700 Income before taxes 53,550 Income tax expense 21,572 Net income $ 31,978 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 2 Req3 Req 4 Req 5 Reg 6 Req 7 Req8 Req9 Reg 10 Req 11 Compute the debt-to-equity ratio. ) (6) Debt-to-Equity Ratio Denominator: Numerator: 1 Debt-to-Equity Ratio Debt-to-equity ratio / / to 1 < Req 5 Req 7 >
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150,300 Retained earnings $ 246,500 Total liabilities and equity $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense 4,700 Income before taxes 53,550 Income tax expense 21,572 Net income $ 31,978 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 2 Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Req 8 Reg 9 Req 10 Req 11 Compute the times interest earned. (7) 7 Times Interest Earned Numerator: Denominator: = Times Interest Earned = Times interest earned times < Req6 Req8 >
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150, 300 Retained earnings $ 246,500 Total liabilities and equity $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense 4,700 Income before taxes 53,550 Income tax expense 21,572 Net income $ 31,978 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 Reg 5 Req 6 Req 7 Reg 8 Reg 9 Req 10 Req 11 Compute the profit margin ratio. (8) Profit Margin Ratio Denominator: Numerator: 1 Profit margin ratio Profit margin ratio % 1 = < Req 7 Req 9 >
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150,300 Retained earnings $ 246,500 Total liabilities and equity $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense Income before taxes Income tax expense 21,572 Net income $ 31,978 4,700 53,550 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 Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Req 8 Reg 9 Req 10 Req 11 Compute the total asset turnover. (9) Total Asset Turnover Denominator: Numerator: 1 / Total Asset Turnover Total asset turnover times = < Req8 Req 10 >
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150, 300 Retained earnings $ 246,500 Total liabilities and equity $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense 4,700 Income before taxes 53,550 Income tax expense 21,572 Net income $ 31,978 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 Reg 3 Req 4 Req 5 Req 6 Req 7 Reg 8 Req 9 Req 10 Req 11 Compute the return on total assets. (10) Return on Total Assets Denominator: Numerator: 1 Return on Total Assets Return on total assets % 1 < Req9 Req 11 >
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, $50,900; total assets, $189,400; common stock, $89,000; and retained earnings, $29,922.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity $ 12,000 Accounts payable 9,000 Accrued wages payable 30,000 Income taxes payable 42,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 150,300 Retained earnings $ 246,500 Total liabilities and equity $ 16,500 3,800 3,900 71,400 89,000 61,900 $ 246,500 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,150 Gross profit 157,450 Operating expenses 99,200 Interest expense 4,700 Income before taxes 53,550 Income tax expense 21,572 Net income $ 31,978 $ 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 Req5 Reg 6 Req 7 Req8 Req9 Reg 10 Req 11 Compute the return on equity. (11) ) Return on Equity Denominator Numerator: 1 = Return On Equity Return on equity 1 1 = % % < Req 10 Reg 11