Exercise 3-16 (Algo) Calculating ratios [LO3-8] The 2024 balance sheet for Hallbrook Industries, Incorporated, is shown below. Cash HALLBROOK INDUSTRIES, INCORPORATED Balance Sheet Short-term investments Accounts receivable Inventory Property, plant, and equipment (net) Total assets December 31, 2024 ($ in thousands) Assets Liabilities and Shareholders' Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings Total liabilities and shareholders' equity Net sales Interest expense Income tax expense Net income $390 340 390 380 2,900 $4,400 The company's 2024 income statement reported the following amounts ($ in thousands): $ 6,500 50 180 350 $590 540 1,700 1,570 $ 4,400

Exercise 3-16 (Algo) Calculating ratios [LO3-8] The 2024 balance sheet for Halibrook Industries, Incorporated, is shown below. The company's 2024 income statement reported the following amounts ( $ in thousands): 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