Analysis: Explain the company$$s cash position, its net income as a percentage of sales, and its current liabilities to current assets position.

A Company

Income Statement

For Month ending $06/30/20$XX

Revenues

Service Revenue $$5,525\mathrm{.}00$

Total Revenues $$5,525\mathrm{.}00$

Operating Expenses:

Telephone Expense $$155\mathrm{.}00$

Repairs and maintenance expense $$210\mathrm{.}00$

Advertising expense $$250\mathrm{.}00$

Business license expense $$250\mathrm{.}00$

Wages expense $$650\mathrm{.}00$

Rent expense $$1,195\mathrm{.}00$

Depreciation expense $$250\mathrm{.}00$

Total Operating Expenses: $2,960\mathrm{.}00$

Net Income $2,565.$