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How to calculate the times interest earned ratio

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The 2021 balance for Hallbrook Industries, Inc., is shown below.

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 reported the following amounts ($ in thousands):

Net sales $ 5,200

Interest expense 50

Income tax expense 160

Net income 220

Question a: Calculate the current ratio. (Round your answer to 2 decimal places.)

Question b: Calculate the acid-test ratio. (Round your answer to 3 decimal places.)

Question c: Calculate the debt to equity ratio. (Round your answer to 2 decimal places.)

Question d: Calculate the times interest earned ratio. (Round your answer to 1 decimal place.)

Reference no: EM132647558

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