hernandezbrandon059
20.12.2021 •
Mathematics
The condensed financial statements of Sandhill Company for the years 2020-2021 are presented below: Sandhill Company Comparative Balance Sheets As of December 31, 2020 and 2021 2021 2020 Cash $713,000 $109,500 Accounts receivable (net) 546,000 424,000 Inventories 575,000 518,000 Plant and equipment 2,646,000 1,617,000 Accumulated depreciation (389,000 ) (221,000 ) $4,091,000 $2,447,500 Accounts payable $518,000 $221,000 Dividends payable -0- 62,500 Bonds payable 616,000 -0- Common stock ($10 par) 2,267,000 1,733,000 Retained earnings 690,000 431,000 $4,091,000 $2,447,500 Additional data: Market value of stock at 12/31/21 is $80 per share. Sandhill sold 41,000 shares of common stock at par on July 1, 2021. Sandhill Company Condensed Income Statement For the Year Ended December 31, 2021 Sales revenue $3,562,000 Cost of goods sold 2,442,000 Gross profit 1,120,000 Administrative and selling expenses 712,000 Net income $408,000 Compute the following financial ratios by placing the proper amounts for numerators and denominators.
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Ответ:
The second option is true because Elegance Home Architects charges $75 per hour
The fourth option is true, if Nelsons hire design for 5 hours, Elegance Home Architects charges will be cheaper
The fifth option is true, if Nelsons hire design for 25 hours, Rock the House Digital Design charges will be cheaper
Step-by-step explanation:
From the statements
The first option is wrong because it failed to include the initial $500 consultation
The second option is true because Elegance Home Architects charges $75 per hour
The third option is also wrong because the Nelsons are not giving the two companies the job
The fourth option is true from calculation, if the Nelsons are to use 15 hours for the design, then
Elegance Home Architects charges will be = $75 x 15
= $1125
Rock the House Digital Design charges will be = $500 + ($50 x 15)
=$1250
Therefore, if Nelsons hire design for 5 hours, Elegance Home Architects charges will be cheaper
The fifth Option is also true, if the Nelsons are to use 25 hours for the design, then
Elegance Home Architects charges will be = $75 x 25
= $1875
Rock the House Digital Design charges will be = $500 + ($50 x 25)
=$1750
Therefore,
From the calculation if Nelsons hire design for 25 hours, Rock the House Digital Design charges will be cheaper