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Cadux Candy Company's income statement for the year ended December 3 1 , 2 0 2 4 , reported interest expense of $ 3 million

Cadux Candy Company's income statement for the year ended December 31,2024, reported interest expense of $3 million and income tax expense of $20 million. Current assets listed in its balance sheet include cash, accounts receivable, and inventory. Property, plant, and equipment is the company's only noncurrent asset. Financial ratios for 2024 are listed below. Profitability and turnover ratios with balance sheet items in the denominator were calculated using year-end balances rather than averages.
\table[[Debt to equity ratio,0.8],[Current ratio,2.0],[Acid-test ratio,1.0],[Times interest earned ratio,16 times],[Return on assets,20%
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