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Below you will see selected financial information from the year-end financial statements of ABC Corporation. The year 2022 was a year of growth. The company

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Below you will see selected financial information from the year-end financial statements of ABC Corporation. The year 2022 was a year of growth. The company invested an extra $50,000 in a marketing campaign and the number of units sold during the year set a record. The company has two main suppliers of the parts used to make their product. Two customers comprise 40% of the company's revenue in 2022 and one of the customers became a new customer in 2022. Prepaids are comprised mainly of prepaid insurance. The accounting clerk decided to take advantage of a 2% discount in return for paying three years of premiums up front. Employees are paid on the last day of the month and so is rent so the only thing in accounts payable balance are invoices due to our product suppliers. The business is a seasonal business with sales peaking in spring and fall but slower in winter and summer. Review this data and then answer the questions below. You can record your answers on this word file and attach the finished word file to the assignment. 1) What is the working capital position of ABC Corporation for 2021 and 2022? What challenges does this pose? Does the performance of the company in 2022 (income statement) justify the increased working capital

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