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