The 2024 balance sheet for Sanchez Industries, Incorporated, is shown below. SANCHEZ INDUSTRIES, INCORPORATED 5 7...

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The 2024 balance sheet for Sanchez Industries, Incorporated, is shown below. SANCHEZ INDUSTRIES, INCORPORATED 5 7 B Balance Sheet December 31 Assets 9 Cash $114,000 LO Short-term investments 152,000 11 Accounts receivable 142,500 12 Inventory 266,000 13 Property, plant, and equipment (net) 275,500 14 Total assets $950,000 15 Liabilities and Shareholders' Equity 16 Current liabilities $142,500 17 Long-term liabilities 209,000 18 Paid-in capital 285,000 19 Retained earnings 313,500 10 Total liabilities and shareholders' equity $950,000 21 Hint: Your formula should include the =ROUND function. 22 23 The company's 2024 income statement reported the following amounts: 24 25 Net sales 26 Interest expense 27 Income tax expense 28 Net income 29 30 Required: 31 32 1. Calculate the current ratio. 33 2. Calculate the acid-test ratio. 34 3. Calculate the debt to equity ratio. 25 4. Calculate the times interest earned ratio. 36 37 $2,280,000 36,000 123,000 103,000 Rounded to: 2 decimal places 3 decimal places 2 decimal places 1 decimal place The 2024 balance sheet for Sanchez Industries, Incorporated, is shown below. SANCHEZ INDUSTRIES, INCORPORATED 5 7 B Balance Sheet December 31 Assets 9 Cash $114,000 LO Short-term investments 152,000 11 Accounts receivable 142,500 12 Inventory 266,000 13 Property, plant, and equipment (net) 275,500 14 Total assets $950,000 15 Liabilities and Shareholders' Equity 16 Current liabilities $142,500 17 Long-term liabilities 209,000 18 Paid-in capital 285,000 19 Retained earnings 313,500 10 Total liabilities and shareholders' equity $950,000 21 Hint: Your formula should include the =ROUND function. 22 23 The company's 2024 income statement reported the following amounts: 24 25 Net sales 26 Interest expense 27 Income tax expense 28 Net income 29 30 Required: 31 32 1. Calculate the current ratio. 33 2. Calculate the acid-test ratio. 34 3. Calculate the debt to equity ratio. 25 4. Calculate the times interest earned ratio. 36 37 $2,280,000 36,000 123,000 103,000 Rounded to: 2 decimal places 3 decimal places 2 decimal places 1 decimal place