The 2013 balance sheet for Hallbrook Industries, Inc., is shown below.

The company's 2013 income statement reported the following amounts ($ in 000s):
Net sales ......................... $ 4600
Interest expense .................... 40
Income tax expense ............ 100
Net income .......................... 160

Required:
Determine the following ratios for 2013:
1. Current ratio (#.##)
2. Acid-test ratio (#.##)
3. Debt to equity ratio (#.##)
4. Times interest earned ratio (#.#) __________times

Transcribed Image Text:

HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2013 (S in 000s) Assets Cash Short-term investm ents Accounts receivable Inventories Property, plant, and equipm ent (net) 200 150 200 350 1,000 Total assets S 1,900 Liabilities and Shareholders Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings 400 350 750 400 Total liabilities and shareholders' equity S 1,900