1 Background I J K L M N ABC Appliance Inc. is incorporated in 2015. Their major products are kitchen and bath appliances, including cooktop, oven, dishwasher, bathtub and so on. Majority of the company's revenue is generated from the e-commerce marketplace. E-commerce buyers include Amazon, Walmart.com, Homedepot.com and Lowes.com. ABC's sales have been growing year over year. 6 Instruction Please refer to tab 1 and 2 for the company's financial statements and answer the below questions. Please provide your answer in the space provided. (Note: Feel free to reformat or add notes or caculations in tab 1 and 2 as needed.) Based on your review and analysis, do you identify any data that can be a potential error? Question 1 Answer 10 By reviewing the financials, can you identify any issues with the business's operations? 13 Answer Question 3 Answer What are some differences you have observed between ABC and other traditional big brand competitors (LG, Samsung, Boch, Whirpool)? Question 4 If ABC plans to grow more aggressively in 2020 by adding new product lines and expanding to new marketplaces, what will be some potential challenges? Please ignore the current market condition due to COVID-19. 19 Answer What are your recommedations for ABC to improve its financial perfomance? Question 5 Answer + Questions - 1. Balance Sheet 2. Profit and Loss LICUIL CUIUS (48,176) 429 1,484 262,720 97 181 434 265,397 1,192,745 27,960 508,502 Total Credit Cards Other Current Liabilities Federal Payroll Taxes Payable FICA Tax Payable FUTA Tax Payable Income Taxes Payable Loan Payable Payroll Clearing SD/SUI Tax Payable State Payroll Taxes Payable SUTA Payable Total Other Current Liabilities Total Current Liabilities Long-Term Liabilities Equipment Payable Other Long-term Liabilities Vehicles Payable Vehicles Payable - Mercedes Vehicles Payable - Porsche Total Vehicles Payable Total Long-Term Liabilities Total Liabilities Equity Opening Balance Equity Retained Earnings Stockholders Equity Capital Contributions Owner's Draw Total Stockholders Equity Net Income Total Equity TOTAL LIABILITIES AND EQUITY (46,985) (90,101) (137,086) 399,376 1,592,121 136,209 (654,106) 76,805 (12,212) 64,594 749,287 295,984 1,888,105 63 -64.82 300.56 5,784.63 41.41 133.08 687.29 133.08 61.46 148.36 125.58 136.80 -787.70 130.58 8,162.70 459.60 15,640.87 48.00 7,727.05 69,233.18 7,076.11 239.94 1,078.08 2,454.40 250.00 15,870.66 666.83 596.22 300.00 16,074.80 799.98 745.15 2,469.23 400.00 16,074.80 272.27 29,282.74 38,063.39 550.00 19,807.20 120.01 200.32 5,915.05 350.00 16,506.05 1,062.31 270.58 300.00 16,074.80 450.00 16,074.80 350.00 16,074.80 450.00 16,074.80 4,984.08 1,597.37 693.93 467.80 18,003.71 54.00 22,546.17 9,066.04 1,724.29 527.59 1,758.51 2,815.86 1,358.74 23,578.71 1,610.03 13,271.65 2,208.45 7,529.56 10,846.30 20,085.73 338.49 -39.99 5,924.05 33,694.90 906.80 9,121.18 59,590.69 492.11 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 15,262.30 30,545.42 6,803.21 22.23 5,463.54 4,838.99 21,038.85 51,018.69 4,145.09 612.29 12,630.39 18,391.86 862.86 6,881.51 36,437.04 66,955.41 6,748.45 206,126.58 1,712.03 367,041.79 502,395.04 41,532.66 594.53 44,271.79 9,413.29 0.00 13,392.77 25.00 37,252.00 193.72 1,531.25 3,500.00 28.40 253.08 599.10 525.49 584.75 619.50 446.44 454.36 487.36 847.37 870.76 1,188.56 388.50 114.01 209.72 6,000.82 655.13 Ottice Supplies Payroll Taxes Platform Selling Fees Postage Rent & Lease Repairs & Maintenance Salaries and Wages Shipping, Freight & Delivery Software Supplies Taxes & Licenses Travel Uncategorized Expense Utilities Warehouse, Storage & Labeling Supplies Total Expenses Net Operating Income Other Income Bank Rebates Gain/Loss Insurance Reimbursement Management Fee Total Other Income 62 Other Expenses Depreciation Home Office 65 Total Other Expenses 66 Net Other Income Net Income 975.00 $ 64,934.24 $ 43,473.32 675.00 $ 161,994.57 $ 32,586.96 570.00 $ 103,369.61 $ 28,526.59 $ 120,199.84 $ 210,382.83 $ 147,916.78 $ 239,258.35 $ 119,242.15 $ 143,614.29 125.00 $ 95,202.64 $ 181,043.40 9,080.00 $ 243,260.11 $ 78,272.18 $ 106,464.35 $ 1,629.90 3,000.00 $ 125,295.07 $ 62,693.27 2 $ 274,243.58 $ 4,805.73 2,827.33 178,213.81 415,484.53 $ $ 2,841.59 138,443.50 161,695.17 $ $ 14,664.00 $ 232,758.38 $ 133,007.53 34,757.92 ,111,538.63 396,424.53 0.00 22,929.04 1,982.95 5,307.16 15,638.93 1,065.58 708.35 1,851.05 902.06 -89.97 913.50 50,100.00 $ 55,407.16 30,000.00 30,000.00 126.43 30,000.00 30,126.43 1,760.68 30,000.00 31,760.68 7,237.68 140,100.00 170,266.72 1,065.58 $ 2,691.30 $ 1,851.05 $ 902.06 $ 0.00 $ 89.97 $ 0.00 $ $ $ 15,638.93 $ 913.50 $ 0.00 $ 0.00 238.10 238.10 238.10 238.10 1,965.19 6.22 238.10 3,366.56 $ 3,604.66 $ 2,539.08 $ 46,012.40 $ 238.10 $ 2,453.20 $ 30,133.76 $ $ $ 238.10 10,733.12 10,971.22 9,120.17 19,406.42 $ 238.10 $ 663.96 $ 209,718.87 238.10 13,366.56 $ 13,604.66 $ 13,604.66 $ 225,653.69 $ 238.10 $ 328.07 $ 143,942.36 238.10 3,366.56 $ 3,604.66 $ 3,604.66 $ 177,438.74 238.10 6,866.56 $ 7,104.66 $ 48,302.50 $ 49,932.40 238.10 2,706.22 $ 2,944.32 $ 27,055.68 $ 51,216.50 $ $ $ 5,944.32 24,182.11 86,875.38 $ $ $ 238.10 2,706.22 2,944.32 12,694.61 17,500.34 $ $ $ 57,231.96 -48,818.02 8,413.94 7,500.44 407,984.09 $ $ $ 1,965.19 1,965.19 163,660.36 1,965.19 1,875.00 $ 3,840.19 $ 27,920.49 $ 160,928.02 63,781.44 1,875.00 65,656.44 104,610.28 501,034.81 + E Questions - 1. Balance Sheet 2. Profit and Loss :: TANFG - ABC A....xlsx ^ 100% - $ % 0.00 123 - @ Background Calibri - 12 - BISA - E L BOY. Background ABC Appliance Inc. is incorporated in 2015. Their major products are kitchen and bath appliances, including cooktop, oven, dishwasher, bathtub and so on. Majority of the company's revenue is generated from the e-commerce marketplace. E-commerce buyers include Amazon, Walmart.com, Homedepot.com and Lowes.com. ABC's sales have been growing year over year. Instruction Please refer to tab 1 and 2 for the company's financial statements and answer the below questions. Please provide your answer in the space provided. (Note: Feel free to reformat or add notes or caculations in tab 1 and 2 as needed.) Question 1 Answer Based on your review and analysis, do you identify any data that can be a potential error? 0 *2 13 Question 2 Answer By reviewing the financials, can you identify any issues with the business's operations? 15 Question 3 Answer What are some differences you have observed between ABC and other traditional big brand competitors (LG, Samsung Boch, Whirpool? Question 4 ABC plans to grow more aggressively in 2020 by adding new product lines and expanding to new marketplaces, what will be some potential challenges? Please tenore the current market condition due to COVID-19. Answer What are your recommedations for ABC to Improve its financial perfomance? Question 5 Answer Questions - 1. Balance Sheet - 2. Profit and Loss 1 Background I J K L M N ABC Appliance Inc. is incorporated in 2015. Their major products are kitchen and bath appliances, including cooktop, oven, dishwasher, bathtub and so on. Majority of the company's revenue is generated from the e-commerce marketplace. E-commerce buyers include Amazon, Walmart.com, Homedepot.com and Lowes.com. ABC's sales have been growing year over year. 6 Instruction Please refer to tab 1 and 2 for the company's financial statements and answer the below questions. Please provide your answer in the space provided. (Note: Feel free to reformat or add notes or caculations in tab 1 and 2 as needed.) Based on your review and analysis, do you identify any data that can be a potential error? Question 1 Answer 10 By reviewing the financials, can you identify any issues with the business's operations? 13 Answer Question 3 Answer What are some differences you have observed between ABC and other traditional big brand competitors (LG, Samsung, Boch, Whirpool)? Question 4 If ABC plans to grow more aggressively in 2020 by adding new product lines and expanding to new marketplaces, what will be some potential challenges? Please ignore the current market condition due to COVID-19. 19 Answer What are your recommedations for ABC to improve its financial perfomance? Question 5 Answer + Questions - 1. Balance Sheet 2. Profit and Loss LICUIL CUIUS (48,176) 429 1,484 262,720 97 181 434 265,397 1,192,745 27,960 508,502 Total Credit Cards Other Current Liabilities Federal Payroll Taxes Payable FICA Tax Payable FUTA Tax Payable Income Taxes Payable Loan Payable Payroll Clearing SD/SUI Tax Payable State Payroll Taxes Payable SUTA Payable Total Other Current Liabilities Total Current Liabilities Long-Term Liabilities Equipment Payable Other Long-term Liabilities Vehicles Payable Vehicles Payable - Mercedes Vehicles Payable - Porsche Total Vehicles Payable Total Long-Term Liabilities Total Liabilities Equity Opening Balance Equity Retained Earnings Stockholders Equity Capital Contributions Owner's Draw Total Stockholders Equity Net Income Total Equity TOTAL LIABILITIES AND EQUITY (46,985) (90,101) (137,086) 399,376 1,592,121 136,209 (654,106) 76,805 (12,212) 64,594 749,287 295,984 1,888,105 63 -64.82 300.56 5,784.63 41.41 133.08 687.29 133.08 61.46 148.36 125.58 136.80 -787.70 130.58 8,162.70 459.60 15,640.87 48.00 7,727.05 69,233.18 7,076.11 239.94 1,078.08 2,454.40 250.00 15,870.66 666.83 596.22 300.00 16,074.80 799.98 745.15 2,469.23 400.00 16,074.80 272.27 29,282.74 38,063.39 550.00 19,807.20 120.01 200.32 5,915.05 350.00 16,506.05 1,062.31 270.58 300.00 16,074.80 450.00 16,074.80 350.00 16,074.80 450.00 16,074.80 4,984.08 1,597.37 693.93 467.80 18,003.71 54.00 22,546.17 9,066.04 1,724.29 527.59 1,758.51 2,815.86 1,358.74 23,578.71 1,610.03 13,271.65 2,208.45 7,529.56 10,846.30 20,085.73 338.49 -39.99 5,924.05 33,694.90 906.80 9,121.18 59,590.69 492.11 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 15,262.30 30,545.42 6,803.21 22.23 5,463.54 4,838.99 21,038.85 51,018.69 4,145.09 612.29 12,630.39 18,391.86 862.86 6,881.51 36,437.04 66,955.41 6,748.45 206,126.58 1,712.03 367,041.79 502,395.04 41,532.66 594.53 44,271.79 9,413.29 0.00 13,392.77 25.00 37,252.00 193.72 1,531.25 3,500.00 28.40 253.08 599.10 525.49 584.75 619.50 446.44 454.36 487.36 847.37 870.76 1,188.56 388.50 114.01 209.72 6,000.82 655.13 Ottice Supplies Payroll Taxes Platform Selling Fees Postage Rent & Lease Repairs & Maintenance Salaries and Wages Shipping, Freight & Delivery Software Supplies Taxes & Licenses Travel Uncategorized Expense Utilities Warehouse, Storage & Labeling Supplies Total Expenses Net Operating Income Other Income Bank Rebates Gain/Loss Insurance Reimbursement Management Fee Total Other Income 62 Other Expenses Depreciation Home Office 65 Total Other Expenses 66 Net Other Income Net Income 975.00 $ 64,934.24 $ 43,473.32 675.00 $ 161,994.57 $ 32,586.96 570.00 $ 103,369.61 $ 28,526.59 $ 120,199.84 $ 210,382.83 $ 147,916.78 $ 239,258.35 $ 119,242.15 $ 143,614.29 125.00 $ 95,202.64 $ 181,043.40 9,080.00 $ 243,260.11 $ 78,272.18 $ 106,464.35 $ 1,629.90 3,000.00 $ 125,295.07 $ 62,693.27 2 $ 274,243.58 $ 4,805.73 2,827.33 178,213.81 415,484.53 $ $ 2,841.59 138,443.50 161,695.17 $ $ 14,664.00 $ 232,758.38 $ 133,007.53 34,757.92 ,111,538.63 396,424.53 0.00 22,929.04 1,982.95 5,307.16 15,638.93 1,065.58 708.35 1,851.05 902.06 -89.97 913.50 50,100.00 $ 55,407.16 30,000.00 30,000.00 126.43 30,000.00 30,126.43 1,760.68 30,000.00 31,760.68 7,237.68 140,100.00 170,266.72 1,065.58 $ 2,691.30 $ 1,851.05 $ 902.06 $ 0.00 $ 89.97 $ 0.00 $ $ $ 15,638.93 $ 913.50 $ 0.00 $ 0.00 238.10 238.10 238.10 238.10 1,965.19 6.22 238.10 3,366.56 $ 3,604.66 $ 2,539.08 $ 46,012.40 $ 238.10 $ 2,453.20 $ 30,133.76 $ $ $ 238.10 10,733.12 10,971.22 9,120.17 19,406.42 $ 238.10 $ 663.96 $ 209,718.87 238.10 13,366.56 $ 13,604.66 $ 13,604.66 $ 225,653.69 $ 238.10 $ 328.07 $ 143,942.36 238.10 3,366.56 $ 3,604.66 $ 3,604.66 $ 177,438.74 238.10 6,866.56 $ 7,104.66 $ 48,302.50 $ 49,932.40 238.10 2,706.22 $ 2,944.32 $ 27,055.68 $ 51,216.50 $ $ $ 5,944.32 24,182.11 86,875.38 $ $ $ 238.10 2,706.22 2,944.32 12,694.61 17,500.34 $ $ $ 57,231.96 -48,818.02 8,413.94 7,500.44 407,984.09 $ $ $ 1,965.19 1,965.19 163,660.36 1,965.19 1,875.00 $ 3,840.19 $ 27,920.49 $ 160,928.02 63,781.44 1,875.00 65,656.44 104,610.28 501,034.81 + E Questions - 1. Balance Sheet 2. Profit and Loss :: TANFG - ABC A....xlsx ^ 100% - $ % 0.00 123 - @ Background Calibri - 12 - BISA - E L BOY. Background ABC Appliance Inc. is incorporated in 2015. Their major products are kitchen and bath appliances, including cooktop, oven, dishwasher, bathtub and so on. Majority of the company's revenue is generated from the e-commerce marketplace. E-commerce buyers include Amazon, Walmart.com, Homedepot.com and Lowes.com. ABC's sales have been growing year over year. Instruction Please refer to tab 1 and 2 for the company's financial statements and answer the below questions. Please provide your answer in the space provided. (Note: Feel free to reformat or add notes or caculations in tab 1 and 2 as needed.) Question 1 Answer Based on your review and analysis, do you identify any data that can be a potential error? 0 *2 13 Question 2 Answer By reviewing the financials, can you identify any issues with the business's operations? 15 Question 3 Answer What are some differences you have observed between ABC and other traditional big brand competitors (LG, Samsung Boch, Whirpool? Question 4 ABC plans to grow more aggressively in 2020 by adding new product lines and expanding to new marketplaces, what will be some potential challenges? Please tenore the current market condition due to COVID-19. Answer What are your recommedations for ABC to Improve its financial perfomance? Question 5 Answer Questions - 1. Balance Sheet - 2. Profit and Loss