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Seved Help Sav Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit, selected balance sheet amounts at December 31, 2016, were inventory, S49.900, total assets, $219,400: common stock, $83,000: and retained earnings. $54.354.) 452.60 298,450 Cost of goods sold Groas profi Operating expenses 30,246 Assets Cash Liabilities and Eqaity 15,500 3, 700 64,400 18,000 Accounts payable ,,00ง Moored wages payable 30,200 Inoone taxes payable Accounts receivable, net Sotes receivable (trade)* Merehand ise inventory 40.150 tong-term note payable, secured by mortgage on plant assets 150 Common stoek Prepaid expenses Total These are short-term notes receivable arising from customer (trade) sales 149 300 Retained earnings 254,800 Total 1iabilities and eqaity Required: Compute the following: (η current ratio, (2) acid-test ratio (3) days sales uncollected, (4) inventory turnover, (5) days sales in i entory 6) debl-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover (10) return on total assets, and (11) retun on common stockholders equity, (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Prev1 of 1 Next MacBook Ai 딤D
Setes receivable (erade) Merchandise inventory 5, 000 10,150 Long-term note payable, sscured by 6 64,400 83,000 254,800 mortgage on plant assets ,150 Common stook Prepaid expenses Plant assets, net Total assets 254,800 Total liabilities and equity These are short-term notes receivable arising from customer (trade) sales. Required Compute the following: η current ratio, 2 acid-test ratio 3 days sales uncollected, (4 in entry turnover (S days sales i invent . 6) debt-to-equity ratio, C) 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 intermedlate calculations) Complete this question by entering your answers in the tabs below Rq Req 7 Re Req Req 10 Req 11 Reg 1 and 2Req 3 Compute the current ratio and acid-test ratio. Choose Numerator: Choose Current Ratio 254 800 Acid Test Ratio Prev 1of1Next MacBook Air 3 4 5 6 7 8 9
Help S Notes receivable (trade)* Merchandise inventory 5,000 40,150 tong-term sote payable, secured by nortgage on plant assets 64,400 ,150 Common stock Prepaid expenses Plant assets, net 149 300 Retained earnings 254,800 Total 1iabilities and equity 3,000 84,600 254,800 These are short-term notes receivable arising from customer (trade) sales. Compute the following: (1 6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover (10) return on total as on common stockholders equity. (Do not round intermediate calculations. current ratio, (2) acid-test ratio. (3) days sales uncollected, (4) inventory turnover (5) days sales in inventory sets, and (1) return Complete this question by entering your answers in the tabs below Req 1 and 2 3 R4 ReqS Req 7 Req 8 Reg9 Req 10 Req 11 7 Compute the days sales Days Sales Uncollected Days sales uncolected 0 days Req4 MacBook Ai 3 4 5 6 7 8 9
Help Notes receivable (trade)* Merchandise inventory 40,150 Long-term note payable, secured by mortgage on plant aasets 64,400 83,000 84,500 ,150 Common stoek 149,300 etained earnings Prepaid expenses 254,800 254,800 Total 1iabilities and equity These are short-term notes receivable arising from customer (trade) sales. Required: Compute the folowing: η current ratio, 2 acid-test ratio, 3 days sales ur collected 4 inventory turno e, s) dys sales n me tory, (6) debt-to-equity ratio, (7h 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. Req 1 and 2 R3 R4 Req 5 Req 6 Req 7 Req 8Reg 9Req 10 Req 11 Compute the Inventory.turnover Inventory turnove O times Reas > Prev 1 of 1 Next MacBook Air 20 51
Help Liabilities and Equity s 15,500 3,600 3,700 s 18,000 Accounts payable 9,000 Accroed vages payable 0,200 Income taxes payable Accounta receivable, net Sotes receivable (trade) Merchandise inventory ,000 40,150 Long-term note paysble, secured by4,400 mortgage on plant assets 3,150 Common stock 13,000 Prepaid expenses Plant assets, net 149,300 Retained earnings 254,800 Total 1iabilitiea and equity 254, 800 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 (5) debt-to-equity ratio, () times interest earned, (8) profit margin ratio, (9) total asset turnover, (30) return on total assets, and (11) return on common stockholders equity. (Do not round intermediate calculations) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req4 ReqS Req 6 Req7 ReqReq 9 Req 10 Req 11 Compute the days sales in inventory Days Sales in Inventory Sales in Days sales in inventory 2017 days Prev1o1 Next MacBook Air 30
Hel Liabilities and Bquity s 15,500 3,600 3,700 18,000 Accounts payable 9,000 Acerued vages payable 30,200 Income taxes payable Short-ters investments Accounts receivable, net Sotes receivable (trade) Merchandise inventory 5,000 40,150 Tong-term note payable, secured by 64, 400 mortgage on plant assets Prepaid expensers Plant assets, et Total assets 3,150 C-on stock 149,300 Retained earnings 83,000 4-600 s 254, 800 254,800 Total liabilities and equity These are short-term notes receivable arising from customer (trade) sales. Compute the following: (3 current ratio, (2) acid-test ratio, (3) days sales uncollected, (4) inventory turnover, (5) days sales in inventory, (6) debt-to-equity ratio, times interest earned. (8) profit margin ratio, (9) total asset turnover, (1o) return on total assets, and (ft return on common stockholders equity. (Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req Req 5 Req 6 Req 7 Reg 8 Req 9 Req 10 Req 11 Compute the debt-to-equity ratio. Choose Debt-to-Equity Ratio ty ratio 0 to 1 Req? > Prev 1 of l Next MacBook Ai 20 3 4 5 7 8 9
Liabilieies and Eguity 15,500 3,700 18,000 Accounts payable ,000 Acerued vages payable Short-term Aecounts receivable Notes receivable (trade) 30,200 Income taxes payable 40,150 Long-term note payable, secured by 4,400 mortgage on plant assets Prepaid expenses Plant asseta, set Total assets ,150 Comnon stock 149.300 Retained earnings 3,000 84,500 s 254,800 254,800 Total 1iabilities and eqaity These are short-term notes recelvable arising from customer (trade) sales Required: (6) debt-to-equity ratio, 7h times interest earned, (8) profit margin ratio, (9) total asset turnover, sales in (10)return on total assets, and (110 return on common stockholders equity. (Do not round intermediate calculations) Complete this question by entering your answers in the tabs below Reg 9 Req 10 Req 11 Req 1 and 2 Req 3 Req4 Rq S R6Rg 7 Compute the times interest earned Times Inerest Times interest I Choose D o Simes Prev 1of 1llǐ Next MacBook Ai 名ロ 3 5 6 8 9
Lisbilities and Equity s 15,s00 3,700 64,400 3,000 254,800 18,000 Accounts payable 9,000 Aeerued vages payable 30,200 Income taxes payable 3,60 Notes receivable (trade) Merchandise inventory 40,150 Tong-term sote payable, secured by mortgage on plant Prepaid expenses Plant ausets, net total assets .150 Common stoek 149,300 Retained earnings 254,800 Total liabilities and equity These are short-term notes receivable arising from customer (trade) sales Required: Com pute the fol wing (T cu ent ratio, 2 acid test ratio.ต days sales uncollected 4 inventory turnover 5) days sales in i entry (6) debt-to-equity ratio,) times interest eaned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (0 return es on common stockholders equity. (Do not round intermediate calculations Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req 3 Rg4 RegRegRReg 10 Reg 11 Compute the profit margin ratio Prev 10,1 ill Next MacBook Air 898 3 5 6 8 9
Liabilities and Equity $ 18,000 Accounts payable 9,000 Acerued vages payable taxes payable Accounts receivable, set Notes rece İrable (trade). Merchandise inventory 3,700 64,400 83,000 254,800 5,000 40,150 Long-term note payable, secured by mortgege on plant aasets Prepaid expenses Plant assets, net Total assets 3,150 Common steek 149, 300 Retained earming 254,800 Total liabilities andequity These are short-term notes receivable arising from customer (trade) sales 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 tmes interest earned 同profit margin ratio (9) total asset turnover o return on total assets and el return es on common stockholders equity. (Do not round intermediate calculations) Complete this question by entering your answers in the tabs belovw Req 1 and 2 RqRqReq 5 Req 6RRReg 10 Req 11 Comput the total asset turnover. Total Asset Total prev 1011 Next MacBook Air 3 5 6 8
Liabilities and Equity $ 15,500 3,600 3,700 18,000 Accounts payable Short-term investnents Accounts receivable, net Notes receivable (erade) Merchandise inventory 9,000 Accrued wages payable 30,200 Income taxes payable ,000 40,150 Long-ters note payable, secured by 64,400 mortgage on plant assets Prepaid expenses ,150 Common stoek 4,600 Plant assets, bet Total assets 149 300 Retained earnings 5 256.800 Total liabilities and equity 254,800 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 eaned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (1) returm on common stockholders equity. (Do not round intermediate calculations) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 q Req 6 Req 7 Rq8 Req 9R Req11 Compute the return on total assets Return on 2017 Prev 1of1E Next MacBook Ai 838 3 4 5 6
Liabilities and Equity s 18,000 Accounts paysble Cash Short-tern investnents Aecounts receivable, ret Notes receivable (trade) Merchandise inventory s 15,500 3,600 3,700 Aeerued vag 30,200 Income taxes payable 5,000 40,150 Long-term note payable, secured by 4,400 3,000 254,800 nortgage on plant assets Prepaid expenses Plast assets, set Total assets ,150 Common stock s 254,800 Total liabilities and equity are short-term notes receivable arising from customer (trade) sales. Compute the folowing () current ratio. ) acid-test ratio.3) days sales uncollected. 4) Inventory turnover. (5) days sales in Inventory profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders equity. (Do not round intermediate caleulations) Complete this question by entering your answers in the tabs below. Rea 9 Req 10 Compute the return on common stockholders equity Return on Rea 10 1 of 1 Next MacBook Ain 3 5 6 7 8 9
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Homework Answers

Answer #1

Answer 1.

Current Assets = Total Assets - Plant Assets, net
Current Assets = $254,800 - $149,300
Current Assets = $105,500

Current Liabilities = Accounts Payable + Accrued Wages Payable + Income Taxes Payable
Current Liabilities = $15,500 + $3,600 + $3,700
Current Liabilities = $22,800

Current Ratio = Current Assets / Current Liabilities
Current Ratio = $105,500 / $22,800
Current Ratio = 4.6 to 1

Answer 2.

Quick Assets = Current Assets - Merchandise Inventory - Prepaid Expenses
Quick Assets = $105,500 - $40,150 - $3,150
Quick Assets = $62,200

Acid-test Ratio = Quick Ratio / Current Liabilities
Acid-test Ratio = $62,200 / $22,800
Acid-test Ratio = 2.7 to 1

Answer 3.

Current Receivable = Accounts Receivable, net + Notes Receivable (trade)
Current Receivable = $30,200 + $5,000
Current Receivable = $35,200

Days’ Sales Uncollected = Current Receivable / Sales * 365
Days’ Sales Uncollected = $35,200 / $452,600 * 365
Days’ Sales Uncollected = 28.4 days

Answer 4.

Average Inventory = ($40,150 + $49,900) / 2
Average Inventory = $45,025

Inventory Turnover = Cost of Goods Sold / Average Inventory
Inventory Turnover = $298,450 / $45,025
Inventory Turnover = 6.6 times

Answer 5.

Days’ Sales in Inventory = Merchandise Inventory / Cost of Goods Sold * 365
Days’ Sales in Inventory = $40,150 / $298,450 * 365
Days’ Sales in Inventory = 49.1 days

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