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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,
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 Required: The company's 2024 income statement reported the following amounts ($ in thousands): $ 280 230 280 310 1,800 $ 2,900 $ 5,400 70 180 240 $ 480 430 1,150 840 $ 2,900 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
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To calculate the requested ratios use the given data and the following formulas 1 Current Ratio Curr...Get Instant Access to Expert-Tailored Solutions
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