SOLVED: "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,259,400; common stock, 589,000; and retained 27,409) earnings;CABOT CORPORATION Income Statement For Current Year Ended December Sales 447 600 Cost goods sold 298,250 Gross profit 350 Operating expenses 400 Interest expense 500 Income before taxes 450 Incore tax expense 309 Net income 27

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