I'm taking an accounting course and I have all of the right answers except for a debt to equity ratio question. Could someone help me out?
This is the information I was given:
HALLBROOK INDUSTRIES, INC.
Balance Sheet:
Cash: 300
Short-term investments: 240
Accounts receivable: 290
Inventories: 390
PPE: 1,000
Total Assets: $2,220
Liabilities and Shareholders' Equity
Current liabilities: 480
Long-term liabilities: 430
Paid-in capital: 830
Retained earnings: 480
Total liabilities and shareholders' equity: 2,220
The company's 2011 income statement reported the following amounts ($ in 000s):
Net sales: 4,750
Interest Expense: 190
Income tax expense: 250
Net income: 310
(Round your answers to 2 decimal places)
Thanks for the help!
This is the information I was given:
HALLBROOK INDUSTRIES, INC.
Balance Sheet:
Cash: 300
Short-term investments: 240
Accounts receivable: 290
Inventories: 390
PPE: 1,000
Total Assets: $2,220
Liabilities and Shareholders' Equity
Current liabilities: 480
Long-term liabilities: 430
Paid-in capital: 830
Retained earnings: 480
Total liabilities and shareholders' equity: 2,220
The company's 2011 income statement reported the following amounts ($ in 000s):
Net sales: 4,750
Interest Expense: 190
Income tax expense: 250
Net income: 310
(Round your answers to 2 decimal places)
Thanks for the help!