Question
PART 1
Required information [The following information applies to the questions displayed below.] Selected comparative financial sta
Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage


PART 2: 10 segments

Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit: selected balance sheet

times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on comCompute the following: (1) current ratio, (2) acid-test ratio, (3) days sales uncollected. (4) inventory turnover, (5) daysRequired: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days sales uncollected, (4) inventory turnover,turnover. (5) days sales in inventory, (6) debt-to-equity ratio. (7) times interest earned, (8) profit margin ratio, (9) totturnover. (5) days sales in inventory. (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) totMerchandise inventory 4,608 64,400 Prepaid expenses Plant assets, net Total assets paydo de, 15e Long-term note payable, secu
Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days sales uncollected. (4) inventory turnover.Required: Compute the following: (1) current ratio. (2) acid-test ratio, (3) days sales uncollected (4) inventory turnover,Plant assets, net Total assets 151,300 $ 245,95€ Retained earnings Total liabilities and equity 72,450 $ 245,950 Required: Co
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks!
Korbin
Answer 3 2019 2018 2017
Assets Amount $ % Amount $ % Amount $ %
Current Assets            56,209.00 111.77%      37,621.00 74.81%      50,290.00 100.00%
Long Term Investments                           -   0.00%           800.00 18.56%        4,310.00 100.00%
Plant assets, net          107,665.00 185.05%      97,708.00 167.93%      58,183.00 100.00%
Total Assets          163,874.00 145.30% 136,129.00 120.70% 112,783.00 100.00%
Liabilities and Equity
Current Liabilities            23,926.00 121.22%      20,283.00 102.77%      19,737.00 100.00%
Common Stock            67,000.00 136.73%      67,000.00 136.73%      49,000.00 100.00%
Other paid in capital               8,375.00 153.84%        8,375.00 153.84%        5,444.00 100.00%
Retained Earnings            64,573.00 167.28%      40,471.00 104.84%      38,602.00 100.00%
Total Liabilities and Equity          163,874.00 145.30% 136,129.00 120.70% 112,783.00 100.00%
Cabot
Statement of Earnings Current Year
Sales       456,600.00
Cost of goods sold       297,150.00
Gross Profit       159,450.00
Operating expenses         99,200.00
Income from operations         60,250.00
Interest expense            4,200.00
Income before income tax         56,050.00
Income tax expense         22,579.00
Net Income         33,471.00
Statement of Financial Position
Assets Current Year Prior Year
Cash         12,000.00
Short term investments            8,600.00
Accounts Receivable (Net)         31,400.00
Merchandise Inventory         40,150.00         54,900.00
Prepaid expenses            2,500.00
Total Current Assets         94,650.00
Plant Assets (Net)       151,300.00
Total Assets       245,950.00       199,400.00
Liabilities and Equity
Liabilities
Accounts Payable         17,500.00
Accrued Wages Payable            3,000.00
Income Taxes Payable            4,600.00
Current Liabilities         25,100.00
Long Term- Liabilities
Long Term note payable         64,400.00
Total Long Term- Liabilities         64,400.00
Total Liabilities         89,500.00
Stockholders' Equity
Common Stock         84,000.00         84,000.00
Retained Earnings         72,450.00         38,979.00
Total Stockholders' Equity       156,450.00       122,979.00
Total Liabilities & Stockholders' Equity       245,950.00
Total Current Assets         94,650.00
Less: Inventory         40,150.00
Prepaid expenses            2,500.00
Quick Assets         52,000.00
Current Year Prior Year
Inventory         40,150.00         54,900.00
Average Inventory         47,525.00
Total Assets       245,950.00       199,400.00
Average Total Assets       222,675.00
Total Stockholders' Equity       156,450.00       122,979.00
Average Stockholders' Equity       139,714.50
Ans 1- Current Ratio Current Year
Current Assets/Current Liabilities                3.77
Ans 2- Acid Test Ratio
Quick Assets/Quick Liabilities                2.07
Ans 3- Accounts Receivables Turnover
Sales Revenue/ Accounts Receivable                14.5
Number of days' sales uncollected
365/ Accounts Receivables Turnover             25.10
Ans 4- Inventory Turnover
Cost of goods sold/Average Inventory
Know the answer?
Add Answer to:
PART 1 PART 2: 10 segments Required information [The following information applies to the questions displayed...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company...

    [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. 2815 $ 229,500 141, 120 79,388 29,106 18, 382 X KORDIN COMPANY Comparative Income statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales $ 414,761 $ 317,741 Cost of goods sold 249,686 199,859 Gross profit 165, 075 117,882 Selling expenses 58,896 43.848 Administrative expenses 37,328 27,961 Total expenses 96,224 71, 809 Income before taxes 63,851 46,073 Income taxes 12,886...

  • Problem 13-4A Calculating financial statement ratios LO P3 Selected current year-end financial statements of Cabot Corporation...

    Problem 13-4A Calculating financial statement ratios LO P3 Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selo at December 31 of the prior year were inventory, $50,900; total assets, $209,400; common stock, $83,00 $54,315.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 452,600 Cost of goods sold 297,550 Gross profit 155,050 Operating expenses 99,500 Interest expense 4,500 Income before taxes 51,050 Income tax expense 20,565 Net income $ 30,485 $...

  • Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance...

    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, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 Cost of goods sold 297,250 Gross profit 151,350 Operating expenses 98,600 Interest expense 4,100 Income before taxes 48,650 Income tax expense 19,598 Net income $ 29,052 Assets Cash Short-term...

  • mework Saved Help Save & Exit Sub Check my wo Problem 13-4A Calculating financial statement ratios...

    mework Saved Help Save & Exit Sub Check my wo Problem 13-4A Calculating financial statement ratios LO P3 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, $209,400; common stock, $83,000; and retained earnings, $43,558.) CABOT CORPORATION Income Statement For Current Year Ended December 31 $ 453,600 297,950 155,650 99,000 4,500 52,150 21,008 Sales Cost of goods sold Gross...

  • Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet...

    Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $52,900; total assets, $199,400; common stock, $84,000; and retained earnings, $43,366.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 452,600 Cost of goods sold 297,650 Gross profit 154,950 Operating expenses Interest expense 4,100 Income before taxes 51,550 Income taxes 20,766 Net income $ 30,784 99,300 $ Assets Cash Short-term investments Accounts receivable, net...

  • Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit, selected balance...

    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 \$55,900 ; total assets, \$189.400 common stock, $89,000; and retained earnings $38,032.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 Cost of goods sold 297,150 Gross profit 153,450 Operating expenses 99,300 Interest expense 4.300 Income before taxes 49,850 Income tax expense 20,082 Net income 29, 768 Assets Cash...

  • Selected current year-end financial statements of Cabot Corporation follow. All sales were on credit; selected balance...

    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 \$55,9 ; total assets, $189,400; common stock$89,000 and retained earnings38,032 ) Check my work 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. $55,900; total assets. $189,400, common stock, $89,000, and retained earnings $38,032.) CABOT...

  • Problem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation...

    Problem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $50,900; total assets, $249,400; common stock, $90,000; and retained earnings, $43,304.) CABOT CORPORATION Income Statement Por Year Ended December 31, 2017 Sales $ 451,600 Cost of goods sold 298,050 Gross profit 153,550 Operating expenses 99,000 Interest expense 3,900 Income before taxes 50,650 Income taxes 20,404 Net income $...

  • Che Problem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot...

    Che Problem 13-4A Calculation of financial statement ratios LO P3 Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit: selected balance sheet amounts at December 31, 2016, were inventory, $55,900; total assets, $249,400; common stock, $80,000, and retained earnings. $54,510.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 447,600 Cost of goods sold 297,450 Gross profit 150, 150 Operating expenses 99,400 Interest expense 4,800 Income before taxes 45,950 Income taxes 18,510 Net...

  • Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance...

    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, $49,900; total assets. $199,400; common stock, $81,000; and retained earnings, $29,718.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 Cost of goods sold 297,050 Gross profit 151,550 Operating expenses 99, 300 Interest expense 3,800 Income before taxes 48,450 Income tax expense 19,518 Net Income $ 28,932 Assets Cash...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT