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Chapter 03 Save 6 The 2021 balance sheet for Hallbrook Industries, Inc., is shown below. 2 points HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021
Chapter 03 Save 6 The 2021 balance sheet for Hallbrook Industries, Inc., is shown below. 2 points HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and Shareholders' Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings Total liabilities and shareholders' equity $ 330 280 330 360 2,300 $3,600 eBook Hint $ 530 480 1,400 1,190 $3,600 Print The company's 2021 income statement reported the following amounts ($ in thousands): Net sales Interest expense Income tax expense Net income $5,900 50 120 290 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.) 1. Current ratio 2 Acid-test ratio 3. Debt to equity ratio 4. Times interest earned ratio times
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