The 2024 balance sheet for Hallbrook Industries, Incorporated, is shown below. Cash HALLBROOK INDUSTRIES, INCORPORATED Balance...

 

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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, 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 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

Answer rating: 100% (QA)

To calculate the requested ratios use the given data and the following formulas 1 Current Ratio Curr... View the full answer