By using the following data, calculate the ratios. Cash HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021.
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Cash HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021. ($ in thousands) Assets 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 Total liabilities and shareholders' equity Net sales Interest expense Income tax expense Net income $ 290 240 290 380 $5,500 80 190 250 1,900 $ 3,100 $ 490 440 The company's 2021 income statement reported the following amounts ($ in thousands): 1,200 970 $ 3,100 Required: 1. Calculate the current ratio. (Round your answer to 2 decimal places.) 2. Calculate the acid-test ratio. (Round your answer to 3 decimal places.) 3. Calculate the debt to equity ratio. (Round your answer to 2 decimal places.) 4. Calculate the times interest earned ratio. (Round your answer to 1 decimal place.) Cash HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021. ($ in thousands) Assets 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 Total liabilities and shareholders' equity Net sales Interest expense Income tax expense Net income $ 290 240 290 380 $5,500 80 190 250 1,900 $ 3,100 $ 490 440 The company's 2021 income statement reported the following amounts ($ in thousands): 1,200 970 $ 3,100 Required: 1. Calculate the current ratio. (Round your answer to 2 decimal places.) 2. Calculate the acid-test ratio. (Round your answer to 3 decimal places.) 3. Calculate the debt to equity ratio. (Round your answer to 2 decimal places.) 4. Calculate the times interest earned ratio. (Round your answer to 1 decimal place.)
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Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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