The 2013 balance sheet for Hallbrook Industries, Inc., is shown


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problem is now attached accounting problem #7.docx The 2013 balance sheet for Hallbrook Industries, Inc., is shown below. HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2013 ($ in 000s) Assets Cash Short-term investments Accounts receivable Inventories Property, plant, and equipment (net) $ 200 150 200 350 1,000 Total assets $1,900 Liabilities and Shareholders’ Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings $ 400 350 750 400 Total liabilities and shareholders’ equity $ 1,900 The company’s 2013 income statement reported the following amounts ($ in 000s): Net sales Interest expense Income tax expense Net income $ 4,600 40 100 160 Required: Determine the following ratios for 2013: (The expected format for rounding your final answers is presented in each row of the table.) 1. 2. 3. 4. Current ratio (#.##) Acid-test ratio (#.##) Debt to equity ratio (#.##) Times interest earned ratio (#.#) __________ times Read more

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