Financial statement data of HiFlite Electronics Limited include the following items (dollars in thousands):

{Requirements}
1. Compute HiFlite's current ratio, debt ratio, and earnings per share. Use the following format for your answer:

2. Compute the three ratios after evaluating the effect of each transaction that follows Consider each transaction separately

a. Purchased store supplies of \(\$ 46,000\) on account

b. Borrowed \(\$ 125,000\) on a long-term note payable

c. Issued 5,000 common shares, receiving cash of \(\$ 120,000\)

d. Paid short-term notes payable, \(\$ 32,000\)

e. Received cash on account, \(\$ 19,000\)
Format your answer as follows:

Transcribed Image Text:

Cash... Short-term investments. Accounts receivable, net Inventories... Prepaid expenses. Total assets Short-terra notes payable Accounts payable... Accrued liabilities. Long-term notes payable Other long-term liabilities. Net income...128) Number of common shares outstanding. $ 22,000 39,000 83.000 141,000 8,000 677,000 49.000 103,000 38,000 160,000 31,000 91.000 40,000