AssetsCashShort-term investmentsAccounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assetsCABOT CORPORATIONIncome StatementFor Current Year Ended December 31Sales$ 450,600298,350152,25099,3004,500Cost of goods soldGross profitOperating expensesInterest expense.Income before taxesIncome tax expenseNet income$ 10,000Accounts payableAccrued wages payable9,20031,400Income taxes payable30,150 Long-term note payable, secured by mortgage on plant assets3,050 Common stock152,300Retained earnings$ 236,100 Total liabilities and equityCABOT CORPORATIONBalance SheetDecember 31 of current yearLiabilities and Equity48,45019,518$ 28,932$ 17,5003,8004,70069,40088,00052,700$ 236,100Required: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) returnon equity. (Do not round intermediate calculations.)

For accounting purposes, financial ratios are a measure of liquidity, profitability, capital gearing…

Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 298,350 Cost of goods sold Gross profit Operating expenses Interest expense. Income before taxes' Income tax expense Net income $ 10,000 9,200 31,400 30,150 3,050 152,300 $ 236,100 Total liabilities and equity 152,250 99,300 4,500 CABOT CORPORATION Balance Sheet December 31 of current year. Liabilities and Equity Accounts payable Accrued wages payable Income taxes payable Long-term note payable, secured by mortgage on plant assets Common stock Retained earnings 48,450 19,518 $ 28,932 $ 17,500 3,800 4,700 69,400 88,000 52,700 $ 236,100 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.)

Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 298,350 Cost of goods sold Gross profit Operating expenses Interest expense. Income before taxes' Income tax expense Net income $ 10,000 9,200 31,400 30,150 3,050 152,300 $ 236,100 Total liabilities and equity 152,250 99,300 4,500 CABOT CORPORATION Balance Sheet December 31 of current year. Liabilities and Equity Accounts payable Accrued wages payable Income taxes payable Long-term note payable, secured by mortgage on plant assets Common stock Retained earnings 48,450 19,518 $ 28,932 $ 17,500 3,800 4,700 69,400 88,000 52,700 $ 236,100 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.)

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 32BEB

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This year Last year 1050 Assets Cash 1530 Marketable securities Accounts receivable Inventories Total current assets 1810 1220 2050 1770 2900 2790 8290 6830 Gross fixed assets 29480 28090 Less: Accumulated depreciation 14680 13140 Net fixed assets 14800 14950 Total assets Liabilities and Stockholders' Equity 23090 21780 Accounts payable Notes payable Accruals 1560 1540 2760 2160 190 350 Total current liabilities 4510 4050 Long-term debt Common stock Retained earnings Total stockholders' equity 5220 4970 9950 9950 3410 2810 13360 12760 Total liabilities and stockholders' equity 23090 21780
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