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The 2016 balance sheet for Hallbrook Industries, Inc., is shown below. HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2016 ($ in 000s) Assets Cash $
The 2016 balance sheet for Hallbrook Industries, Inc., is shown below.
HALLBROOK INDUSTRIES, INC. | |||
Balance Sheet | |||
December 31, 2016 | |||
($ in 000s) | |||
Assets | |||
Cash | $ | 260 | |
Short-term investments | 210 | ||
Accounts receivable | 260 | ||
Inventories | 370 | ||
Property, plant, and equipment (net) | 1,600 | ||
Total assets | $ | 2,700 | |
Liabilities and Shareholders Equity | |||
Current liabilities | $ | 460 | |
Long-term liabilities | 410 | ||
Paid-in capital | 1,050 | ||
Retained earnings | 780 | ||
Total liabilities and shareholders equity | $ | 2,700 | |
The companys 2016 income statement reported the following amounts ($ in 000s): |
Net sales | $ | 5,200 | |
Interest expense | 50 | ||
Income tax expense | 160 | ||
Net income | 220 |
Required: |
1. | Calculate the current ratio. (Round your answer to 2 decimal places.) |
2. | Calculate the acid-test ratio. (Round your answer to 2 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.) |
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