Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. hallbrook industries, inc. balance sheet december

HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments...

60.1K

Verified Solution

Question

Accounting

image
HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ 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 Total liabilities and shareholders' equity 270 220 270 340 1,700 $ 2,800 $ 470 420 1,100 810 $ 2,800 The company's 2021 income statement reported the following amounts ($ in thousands): Net sales Interest expense Income tax expense Net income $5,300 40 170 230 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. Acid-test ratio 3. Debt to equity ratio 4. Times interest earned ratio times

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Given v?(t)=2ti+j, find the arc length of the curve v(t) on the interval [?2,3]. You may...

Biology
1.2K views

3 A population has the following genotypic distribution Genotype Number of individuals TT 24 Tt...

Calculus
1.2K views

Find dx d y dx dx and dy dx x et y te t 2t...

Calculus
1.2K views

24 Find the logarithm 0 04992 a 8 6983 10 b 8 3156 10 c...

Calculus
1.2K views

x r 8 1 2 4

Algebra
1.2K views

7 Use the given information to determine the remaining five trigonometric values OR USE sin...

Algebra
1.2K views

Multiply the monomials 3x y 4xy4 5x y 3 3x y 4xy4 5x y Simplify...

Algebra
1.2K views

W is the set of all vectors in R2 whose second component is the cube...

Algebra
1.2K views

What is the period of the function f x 10 O5T O cos 10x

Accounting
1.2K views

You have been engaged to conduct the audit of Computer Limited for the year ending...

Accounting
1.2K views

The Habender Company just issued a two-year bond at 12%. Inflation is expected to be...

Accounting
1.2K views

EM9.11 Journal Report To review for accuracy the adjusting entries you entered for Mookie The...