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Marat540 [252]
3 years ago
7

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

Business
1 answer:
sdas [7]3 years ago
6 0

Answer:

HALLBROOK INDUSTRIES, INC.

1. Current Ratio = Current assets/Current liabilities

= $1,300/530

= 2.45

2. Acid-test ratio = (Current assets - Inventory)/Current liabilities

= $940/530

= 1.77

3. Debt to Equity ratio = Total Liabilities/Equity

= $1,010/$2,590 * 100

= 0.39

4. Times Interest Earned = EBIT/Interest Expense

= $460/$50

= 9.2 times

Explanation:

a) Data and Calculations:

HALLBROOK INDUSTRIES, INC.

Balance Sheet December 31, 2021 ($ in thousands)

Assets

Cash                                                  $ 330

Short-term investments                      280

Accounts receivable                           330

Inventory                                             360

Total current assets                       $1,300

Property, plant, & equipment (net) 2,300

Total assets                                  $ 3,600

Liabilities and Shareholders’ Equity

Current liabilities                            $ 530

Long-term liabilities                           480

Total liabilities                                $1,010

Equity

Paid-in capital              1,400

Retained earnings       1,190

Total Equity                                 $2,590

Total liabilities and

shareholders’ equity                $ 3,600

2021 Income Statement reported the following amounts ($ in thousands):

Net sales                 $ 5,900

Interest expense            50

Income tax expense     120

Net income                  290

EBIT = $460

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Answer:

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Explanation:

Let's first assign our variables:

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We have three equations there:

She bought 17 pens so this means that if we add all the number of pens together we get 17.

The total cost is $2.05, so if we add the cost of the all the pens we would get $2.05.

Lastly, we know that she bought twice as many gel pens as ink pens.

We can then assume:

x + y + z = 17

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we will need to use all of these to figure out the number of ball pens:

x + y + z = 17

Substitute the equation we came up for y (y = 2z):

x + 2z + z = 17

x + 3z = 17

x = 17 - 3z

--------------------------

0.05x + 0.10y + 0.25 z = 2.05

0.05x + 0.10(2z) + 0.25z = 2.05

0.05(17-3z) + 0.20z + 0.25z = 2.05

0.85 - 0.15z + 0.20z + 0.25z = 2.05

Combine like terms:

0.85 + 0.3z = 2.05

Subtract both sides by 0.85

0.85 + 0.3z - 0.85 = 2.05 - 0.85

0.3z = 1.2

Divide both sides by 0.3

0.3z/0.3 = 1.2/0.3

z = 4

Now that we have the number of ink pens, let's solve the number of ball pens using one of the formulas we came up with.

x = 17 - 3z

x = 17 - 3(4)

x = 17 - 12

x = 5

If you want to check, just plug in everything that we know.

y = 2x

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Answer:

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<h3>what is bonus calculation?</h3>
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To learn more about it, refer

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Which of the following is an advantage of using credit?
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Answer:

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Explanation:

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