The company’s 2021 income statement reported the following amounts ($ in thousands): net sales $ 5,700 interest expense 100 income tax expense 100 net income 270 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.)

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.