Thursday, 7 May 2015

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

The 2013 balance sheet for Hallbrook Industries, Inc., is shown below.   
HALLBROOK INDUSTRIES, INC.
Balance Sheet
December 31, 2013
($ in 000s)
  Assets      
  Cash $ 200  
  Short-term investments   150  
  Accounts receivable   200  
  Inventories   350  
  Property, plant, and equipment (net)   1,000  
 


     Total assets $ 1,900  
 





  Liabilities and Shareholders’ Equity      
  Current liabilities $ 400  
  Long-term liabilities   350  
  Paid-in capital   750  
  Retained earnings   400  
 


     Total liabilities and shareholders’ equity $ 1,900  
 






  
The company’s 2013 income statement reported the following amounts ($ in 000s):

       
  Net sales $ 4,600  
  Interest expense   40  
  Income tax expense   100  
  Net income   160  

  
Required:
Determine the following ratios for 2013: (The expected format for rounding your final answers is presented in each row of the table.)
 



Explanation: