Business, 13.10.2020 03:01 epicriderexe

The 2021 balance sheet for Hallbrook Industries, Inc., is shown below. HALLBROOK INDUSTRIES, INC.
Balance Sheet December 31, 2021 ($ in thousands)
Assets
Cash $ 330
Short-term investments 280
Accounts receivable 330
Inventory 360
Property, plant, and equipment (net) 2,300
Total assets $ 3,600
Liabilities and Shareholders’ Equity
Current liabilities $ 530
Long-term liabilities 480
Paid-in capital 1,400
Retained earnings 1,190
Total liabilities and shareholders’ equity $ 3,600
The company’s 2021 income statement reported the following amounts ($ in thousands):
Net sales $ 5,900
Interest expense 50
Income tax expense 120
Net income 290
Required:
1. Calculate the current ratio. (Round your answer to 2 decimal places.)
2. Calculate the acid-test ratio. (Round your answer to 3 decimal places.)
3. Calculate the debt to equity ratio. (Round your answer to 2 decimal places.)
4. Calculate the times interest earned ratio. (Round your answer to 1 decimal place.)

Answers: 3

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The 2021 balance sheet for Hallbrook Industries, Inc., is shown below. HALLBROOK INDUSTRIES, INC. <...

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