Ans. 6 | Debt to equity ratio = Total debt / Total stockholder's equity | ||
$95,100 / $152,050 | |||
0.63 : 1 | |||
*Calculation of Total Debt: | |||
Accounts payable | $16,500 | ||
Accrued wages payable | $4,600 | ||
Income tax payable | $3,600 | ||
Long term Notes payable | $70,400 | ||
Total Debt | $95,100 | ||
*Calculation of Total Equity: | |||
Common stock | $88,000 | ||
Retained earnings | 64050 | ||
Total Equity (b) | $152,050 | ||
Ans. 7 | Time interest earned =(Income before taxes + Interest expenses) / Interest expenses | ||
($47,350 + $4,000) / $4,000 | |||
$51,350 / $4,000 | |||
12.84 | times | ||
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit selected balance sheet...
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, $219,400; common stock, $80,000; and retained earnings, $34,161.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,950 Gross profit 156,650 Operating expenses 99,100 Interest expense 4,400 Income before taxes 53,150 Income tax expense 21,411 Net income $ 31,739 CABOT CORPORATION Balance...
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $46,900; total assets, $229,400; common stock, $86,000; and retained earnings, $36,336.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $449,600 Cost of goods sold 298,450 Gross profit 151,150 Operating expenses 98,500 Interest expense 4,900 Income before taxes 47,750 Income taxes 19,236 Net income $28,514 CABOT CORPORATION Balance Sheet December 31, 2017 Assets Liabilities and...
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $51,900; total assets, $199,400; common stock, $89,000; and retained earnings, $29,269.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 453,600 Cost of goods sold 297,250 Gross profit 156, 350 Operating expenses 99,100 Interest expense 4,700 Income before taxes 52,550 Income taxes 21,169 Net income $ 31,381 Assets Cash $ CABOT CORPORATION 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. S47.900; total assets, $259.400: common stock. $89.000, and retained earnings $34455 CABOT CORPORATION Income Statement To Year Ended December 31, 2017 Sales $ 454,600 cost of goods sold 297,950 Gross profit 156,65e Operating expenses 98,700 Interest expense 4.700 Income before taxes 53,250 Income taxes 21,451 Net income 31,799 5 $ CABOT CORPORATION Balance Sheet December 31,...
need help ? 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, $229,400; common stock, $88,000; and retained earnings. $32,712.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 450, 600 Cost of goods sold 297,650 Gross profit 152,950 Operating expenses 99, 100 Interest expense 3,800 Income before taxes 50,050 Income taxes 20. 162 Net Income $ 29,888 $ 16,500...
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, $46,900; total assets, $219,400; common stock, $81,000; and retained earnings, $38,566.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 Cost of goods sold 298,450 Gross profit 152,150 Operating expenses 99,500 Interest expense 4,700 Income before taxes 47,950 Income tax expense 19,316 Net income $ 28,634 CABOT CORPORATION 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...
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, $54,900; total assets, $259,400; common stock, $81,000; and retained earnings, $34,712.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 454,600 Cost of goods sold 297,850 Gross profit 156, 750 Operating expenses 99,100 Interest expense 4,000 Income before taxes 53,650 Income tax expense 21,612 Net income 32,038 $ Assets Cash...
Selected year end financial statements of Cabot Corporation follow. (All sales were on credit, selected balance sheet amounts at December 31, 2016, were inventory. $47,900: total assets, $259,400, common stock, $89,000, and retained earnings. $34,451) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 454,600 Cost of goods sold 297,950 Gross profit 156,650 Operating expenses 98,700 Interest expense 4,700 Income before taxes 53,250 Income taxes 21,451 llet income $ 31,799 Assets Cash Short-term investments Accounts receivable, net...
Help Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit: selected balance sheet amounts at December 31, 2016, were inventory. $54,900; total assets, $179,400, common stock, $89,000, and retained earnings. $43,032) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 454,600 Cost of goods sold 297.350 Gross profit 157,250 Operating expenses 99,200 Interest expense 4,600 Income before taxes 53,450 Income taxes 21,532 Net income $ 31,918 $ CABOT CORPORATION Balance Sheet December 31,...