Answered step by step
Verified Expert Solution
Question
1 Approved Answer
es December 31, 2024 ($ in thousands) Assets Cash Short-term investments Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and Shareholders'
es December 31, 2024 ($ 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 $ 210 160 218 320 1,100 $ 2,000 $ 410 360 800 430 $2,000 Total liabilities and shareholders' equity The company's 2024 Income statement reported the following amounts ($ in thousan Net sales Interest expense $ 4,700 50 Income tax expense 110 170 Net income Required: 1. Calculate the current ratio. Note: Round your answer to 2 decimal places. 2. Calculate the acid-test ratio. Note: Round your answer to 3 decimal places. 3. Calculate the debt to equity ratio. Note: Round your answer to 2 decimal places. 4. Calculate the times Interest earned ratio. Note: Round your answer to 1 decimal place. 1. Current ratio 2. Acid-test ratio 2.20 1.415 3. Debt to equity ratio + 4. Times interest earned ratio 6.6 times
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started