CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales Cost o

Question

CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income taxes 450,600 298,150 152,450 98,700 ,200 49,550 19.961 Net income $29,589 CABOT CORPORATION Balance Sheet December 31, 2017 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) Merchandise inventory Liabilities and Equity 12,000 Accounts payable $ 16,500 4,400 4,700 ,200 Acerued wages payable 33, 800 Income taxes payable 4,000 40,150 Long-term note payable, secured by 70,400 mortgage on plant assets Prepaid expenses Plant assets, net Total assets 2,600 Common stock 150, 300 Retained earnings 251,050 Total liabilities and equity 83,000 ,050 251,050 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 (1) return on common stockholders' equity. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below.

Explanation / Answer

9. Asset turnover ratio

10. Return on Total Assets

11. Return on Common Stockholder's Equity

Choose numerator / Choose Denominator = Total Asset Turnover Net sales / Average Total assets = Total Asset Turnover 2017: 450600 / 251050 = 2 times

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