# Problem 17-4A (Algo) Calculating financial statement ratios LO P3S.pdf

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Problem 17-4A (Algo) 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, \$46,900; total assets, \$229,400; common stock, \$86,000; and retained earnings, \$49,827.) 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.CABOT CORPORATIONBalance SheetDecember 31 of current yearAssetsLiabilities and EquityCash\$ 14,000Accounts payable\$ 16,500Short-term investments9,400Accrued wages payable4,400Accounts receivable, net31,800Income taxes payable3,200Merchandise inventory42,150Long-term note payable, secured by mortgage on plant assets64,400Prepaid expenses2,550Common stock86,000Plant assets, net153,300Retained earnings78,700Total assets\$ 253,200Total liabilities and equity\$ 253,200.

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### Problem 17-4A (Algo) Calculating financial statement ratios LO P3S.pdf

• 1. Problem 17-4A (Algo) 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, \$46,900; total assets, \$229,400; common stock, \$86,000; and retained earnings, \$49,827.) 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.CABOT CORPORATIONBalance SheetDecember 31 of current yearAssetsLiabilities and EquityCash\$ 14,000Accounts payable\$ 16,500Short-term investments9,400Accrued wages payable4,400Accounts receivable, net31,800Income taxes payable3,200Merchandise inventory42,150Long-term note payable, secured by mortgage on plant assets64,400Prepaid expenses2,550Common stock86,000Plant assets, net153,300Retained earnings78,700Total assets\$ 253,200Total liabilities and equity\$ 253,200
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