Exercise 3-16 (Algo) Calculating ratios [LO3-8] The 2024 balance sheet for Hallbrook Industries, Incorporated, is shown below. HALLBROOK INDUSTRIES, INCORPORATED Balance Sheet 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 $ 380 330 380 310 2,800 $ 4,200 $ 580 530 1,650 Retained earnings Total liabilities and shareholders' equity 1,440 $ 4,200 The company's 2024 income statement reported the following amounts ($ in thousands): Net sales Interest expense Income tax expense Net income Required: $ 6,400 60 170 340 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. 3. Debt to equity ratio 4. Times interest earned ratio times