3.

The 2021 balance sheet for Hallbrook Industries, Inc., is shown below.

HALLBROOK INDUSTRIES, INC.
Balance Sheet
December 31, 2021
($ in thousands)
Assets
Cash	$	400
Short-term investments		350
Accounts receivable		400
Inventory		300
Property, plant, and equipment (net)		3,000
Total assets	$	4,450
Liabilities and Shareholders Equity
Current liabilities	$	600
Long-term liabilities		550
Paid-in capital		1,750
Retained earnings		1,550
Total liabilities and shareholders equity	$	4,450

The companys 2021 income statement reported the following amounts ($ in thousands):

Net sales	$	6,600
Interest expense		50
Income tax expense		190
Net income		360

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.)