Based on the information given in picture #1, complete the following ratios for the last TWO  years and indicate whether the trend is favorable or unfavorable. Note percentages and times should be to one decimal place (e.g. 14.8%; 5.8x) Liq./Solv. Ratios                         Current Yr. Prior Yr.   Fav/Unfav. Inventory Turnover (X)  {Cost of Goods Sold/ Average Inventories}   Day's Sales in Inventories (days) {Ending Total Inventories/ Cost of Goods Sold x 365}   Debt Ratio (%) {Total Liabilities / Total Assets }

1. Given this information, what is the profit percent?  Format your answer to two decimal places and add a %-sign (i.e. 4.52%) Net Sales  $561,800 Cost of Goods Sold      275,280 Expenses  253,936 2. Given this information, what is the profit dollars?  Round your answer to the dollar and add a dollar sign and comma separator  (i.e. $15,467) Net Sales  $561,800 Cost of Goods Sold      275,280 Expenses  253,936 3. Given the information below, what is the profit dollars?  Round your answer to the dollar and add a dollar sign and comma separator  (i.e. $15,467) Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140 4. Given the information below, what is the profit percent?  Round your answer to two decimal places and add a percent sign (i.e. 15.37%)   Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140   5. Given the information below, what are…

1.  Inventory turnover is calculated as __________ divided by __________. cost of goods sold; inventory cost of goods sold; average inventory cost of goods sold; total assets average inventory; cost of goods sold     2.  The number of days’ sales in inventory is calculated as __________ divided by __________. average inventory; average daily cost of goods sold ending inventory; cost of goods sold net income; sales cost of goods sold; average inventory

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, $52,900; total assets, $219,400; common stock, $86,000; and retained earnings, $31,757.) 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 Cost of goods sold Gross profit $ 14,000 8,200 30,000 38,150 2,600 149,300 $ 242, 250 Operating expenses Interest expense Income before taxes Income tax expense Net income $ 456,600 297,750 158,850 99,000 4,600 55,250 22,257 $32,993 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 Total liabilities and equity $ 18,500 3,600 4,000…