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The 2024 balance sheet for Hallbrook Industries, Incorporated, is shown below. HALLBROOK INDUSTRIES, INCORPORATED Balance Sheet December 31, 2024 ($ in thousands) Assets Cash
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 Retained earnings $ 200 150 200 350 1,000 $ 1,900 $ 400 350 750 400 $ 1,900 Total liabilities and shareholders' equity The company's 2024 income statement reported the following amounts ($ in thousands): Net sales Interest expense $ 4,600 40 Income tax expense 100 160 Net income Required: 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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1 Current Ratio The current ratio measures a companys ability to pay off its shortterm liabilities with its shortterm assets Formula Current Ratio Cur...Get Instant Access to Expert-Tailored Solutions
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