Based on these statments I need to provide an overall analysis of the financial health of the company. I need to indicate how the company performed during it's first month of operations-using the financial statments prepared as the basis for this Analysis Report.

E D B A F 2 Fred's Photos Income Statement For the Month Ended July 31, 2021 6 IS 9 10 1 Revenue Photo Revenue Vending Machine Revenue Total Revenue $ 41,365.00 S 1,200.00 $ 42,565.00 3 4 15 16 7 18 19 20 21 2 3 4 $ 26 22 18 19 30 51 Expenses Office Suplies Expense Photography Supplies Expense Insurance Expense Salaries Expense Depreciation Expense -- Office Equip Depreciation Expense -- Photo Equip Depreciation Expense -- Furn and Fix Advertising Expense Repairs Expense Utilities Expense Miscellaneous Expense Rent Expense Total Expenses 6000.00 7650.00 400.00 7360.00 1520.00 1875.00 950.00 $ 3,645.00 821.00 $ 4,038.00 $ 1,432.00 $ 4,500.00 S 40,191.00 Net Income 52,374.00 3 14 Fred's Photos Statement of Owner's Equity For the Month Euded July 31, 2021 Fred Hayes, Capital, July 1, 2021 $126,000.00 Net Income for July $ 2,374.00 Less Withdrawals for July $ 4,000.00 Decrease in Capital S 1.626.00 Fred Hayes. Capital, July 31, 2021 $124,374.00 38 9 Closing Entries Ledger Financial Statements Type here to search B C D F Fred's Photos Statement of Owner's Equity For the Month Ended July 31, 2021 $126,000.00 Fred Hayes, Capital, July 1, 2021 Net Income for July Less Withdrawals for July Decrease in Capital $ 2,374.00 $ 4,000.00 $ 1,626.00 Fred Hayes, Capital, July 31, 2021 S124,374.00 4 Fred's Photos Balance Sheet July 31, 2021 $ -6 32 8 19 30 51 52 3 54 35 56 67 58 59 00 81 62 33 64 33 56 57 8 39 Assets Cash Accounts Receivable Office Supplies Photography Supplies Prepaid Insurance Photography Equipment Accum Depre. - Photo Equipment $78,874.00 $ 4,405.00 S 1.250.00 $4,750.00 $ 4,400.00 S 21,025.00 Office Equipment Accum. Depre.- Off Equip $ 22,900.00 $ (1.875.00) $18,100.00 S (1.520.00) $ 10,000.00 $ (950.00 $ 16,580,00 Furniture & Fixture Accum. Depre. -Fun & Fixt. S 9,050.00 Total Assets S140,334.00 Liabilities Cloning Entries Ledger Financial Statements B c D E F G Total Assets $140.334.00 Liabilities Accounts Payable Notes Payable Salaries Payable Total Liabilities $ 10,400.00 $ 4,600.00 $ 960.00 S 15.960.00 Owner's Equity Fred Hayes, Capital $124,374.00 Total Liabilities & Equity $140,334.00 3 9 0 1 Fred's Photos Post-Closing Trial Balance July 31, 2021 3 Credit 23 96 Debit $78,874.00 $ 4,405.00 $ 4,750.00 $ 1,250.00 $ 4,400.00 $ 22,900.00 S 1.875.00 $ 18,100.00 18 19 00 01 02 03 04 03 016 07 06 09 Cash Accounts Receivable Photography Supplies Office Supplies Prepaid Insurance Photograhy Equipment Accum Dep Photo Equip Office Equipment Accur. Dep Off Equipment Furniture and Fixtures Acc Dep Furniture and Fixtures Accounts Payable Salaries Payable Notes Payable Fred Hayes, Capital Closing Entries Ledger S 1.520.00 $ 10,000.00 S 950.00 S 10.400.00 S 960.00 S4.600.00 124374.00 Financial Statements Type here to search BE C D E F G B Owner's Equity Fred Hayes, Capital $124,374.00 Total Liabilities & Equity $140.334.00 Fred's Photos Post-Closing Trial Balance July 31, 2021 Credit Debit $ 78,874.00 S 4.405.00 $ 4.750,00 S 1.250.00 $ 4,400.00 $ 22,900.00 $ 1,875.00 Cash Accounts Receivable Photography Supplies Office Supplies Prepaid Insurance Photograhy Equipment Accum Dep. Photo Equip Office Equipment Accum Dep Off Equipment Furniture and Fixtures Acc Dep Furniture and Fixtures Accounts Payable Salaries Payable Notes Payable Fred Hayes, Capital $ 18,100.00 S 1,520.00 $ 10,000.00 950.00 $ 10,400.00 S 960.00 $4,600.00 124374.00 Totals $144,679.00 $144.679.00 6 18 19 Closing Entries Ledger Financial Statements Net Income $ 2,374.00 Fred's Photos Statement of Owner's Equity For the Month Ended July 31, 2021 $126,000.00 Fred Hayes, Capital, July 1, 2021 Net Income for July Less Withdrawals for July Decrease in Capital $ 2,374.00 $ 4,000.00 S 1,626.00 Fred Hayes, Capital, July 31, 2021 S124,374.00 Fred's Photos DW CI. D E F B Fred's Photos Balance Sheet July 31, 2021 Assets Cash Accounts Receivable Office Supplies Photography Supplies Prepaid Insurance Photography Equipment Accum Depre. - Photo Equipment $ 78,874.00 S 4,405.00 $ 1,250.00 $ 4,750.00 $ 4,400.00 S 22,900.00 S (1,875.00) $ 21,025.00 Office Equipment Accum. Depre.- Off. Equip $18,100.00 $ (1,520.00) $ 16,580.00 3 4 5 56 Furniture & Fixture Accum. Depre. -Furn. & Fixt. $ 10,000.00 S (950.00) $ 9,050.00 58 Total Assets $140,334.00 90 11 Liabilities Accounts Payable Notes Payable Salaries Payable Total Liabilities $ 10,400.00 $ 4,600.00 S 960.00 ON S 15,960.00 18 9 30 Owner's Equity Fred Hayes, Capital S124,374.00 Total Liabilities & Equity $140,334.00 Net Income $ 2,374.00 Fred's Photos Statement of Owner's Equity For the Month Ended July 31, 2021 $126,000.00 Fred Hayes, Capital, July 1, 2021 Net Income for July Less Withdrawals for July Decrease in Capital $ 2,374.00 $ 4,000.00 S 1,626.00 Fred Hayes, Capital, July 31, 2021 $124,374.00