Britney Malcolm is prepared to evaluate the past year's financial results for Vitality Natural Care. Positive reviews and strong sales have greeted the new hand cream, but Britney wants to have the financial information considered before making any decisions about its future. In addition to comparing the actual and anticipated expenditures of the new hand cream, Britney should evaluate the financial performance and position of her company in light of the financial accounts from the previous two years. Britney has sent you the $2022$ and $2023$ financial statements.

directions for the task

Write a report that examines Vitality Natural Care's financial performance, financial condition, and product performance.

Financial performance

Analyse financial statements for the business, including:

revenue

cost of goods sold$/$gross margin

expenses

level of profit.

Explain whether financial performance is positive.

Recommend three appropriate ways to improve financial performance.

Vitality Natural Care Ltd$.$

Balance Sheet as at $31$ March $2023$

Vitality Natural Care Ltd$.$

Income statement

for the year ended $31$ March $2023$

$\backslash$table$[[$Sales$,207,000,],[$Less Cost of Goods Sold,$74,{500}_{?},],[$Gross Profit,,$132,500],[,,],[$Less expenses,,$27,200],[$Operating expenses,$4,850,],[$Depreciation expenses,$10,000,],[$Marketing expenses,$76,050,],[$Wages and salaries expenses,$118,{100}_{?},],[$Total Expenses,$$14,400,]]$

Vitality Natural Care Ltd$.$

Statement of changes in equity

for the year ended $31$ March $2023$

$\backslash$table$[[$Shareholders$\text{'}$ Equity $1/4/2022,$$$62,425$