The 2021 balance sheet for Hallbrook Industries, Inc., is shown below. HALLBROOK INDUSTRIES, INC. Balance...
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The 2021 balance sheet for Hallbrook Industries, Inc., is shown below. HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash $ 260 Short-term investments 210 Accounts receivable 260 Inventory 370 Property, plant, and equipment (net) 1,600 Total assets $ 2,700 Liabilities and shareholders' Equity Current liabilities $ 460 Long-term liabilities 410 Paid-in capital 1,050 Retained earnings 780 Total liabilities and shareholders' equity $ 2,700 The company's 2021 income statement reported the following amounts ($ in thousands): Net sales Interest expense Income tax expense Net income $5,200 50 160 220 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.) 1. Current ratio 2 Arid.teet ratin
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