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

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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 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 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

Answer rating: 100% (QA)

1 Current Ratio The current ratio measures a companys ability to pay off its shortterm liabilities with its shortterm assets Formula Current Ratio Cur... View the full answer