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Analyze the financial position of GHI Hospitality, a hotel chain, based on the provided financial data for the fiscal year ending December 31, 2023, to

Analyze the financial position of GHI Hospitality, a hotel chain, based on the provided financial data for the fiscal year ending December 31, 2023, to determine whether the company is likely to continue as a going concern.

Financial Data:

  • Total assets: $90,000,000
  • Total liabilities: $65,000,000
  • Total equity: $25,000,000
  • Net income for the year: $4,200,000
  • Cash and cash equivalents: $10,000,000
  • Accounts receivable: $20,000,000
Inventory: $0

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