Can I please get assisatnce with creating a summary for the provided data answering the above rubrics? Purpose, process, analysis, results, recommendations, asset valuations? Thank you!

The following events occurred in March: - March 1: Owner borrowed $125,000 to fund/start the business. The loan term is 5 years. - March 1: Owner paid $250 to the county for a business license. - March 2: Owner signed lease on office space; paying first (March 20XX) and last month's rent of $950 per month. - March 5: Owner contributed office furniture valued at $2,750 and cash in the amount of $15,000 to the business. - March 6: Owner performed service for client in the amount of $650. Customer paid in cash. - March 8: Owner purchased advertising services on account in the amount of $500. - March 10: Owner provided services to client on account, in the amount of $1,725. - March 15: Owner paid business insurance in the amount of $750. - March 20: The owner received first utility bill in the amount of $135, due in April. - March 20: Office copier required maintenance; owner paid $95.00 for copier servicing. - March 22: Owner withdrew $500 cash for personal use. - March 25: Owner paid $215 for office supplies. - March 25: Owner provided service to client in the amount of $350. Client paid at time of service. - March 30: Owner paid balance due for advertising expense purchase on March 8. - March 30: Received payment from customer for March 10 invoice in the amount of $1,725. - March 31: Last day of pay period; owner owes part-time worker $275 for the March 16 through March 31 pay period. This will be paid on April 5. - March 31: Provided service for client on account in the amount of $3,500. - March 31: Record depreciation of the office furniture at $45.83. After you have finished preparing all the financial statements, analyze the statements and write a short report summarizing your findings. Use the template provided in the What to Submit section to complete your report. There is also a Final Project Walkthrough video available in Supporting Materials that will provide guidance for completing your template. In addition to the financial statement results, the owners have requested that you provide them with additional information as further growth is anticipated. They would like more input from you to support the best possible decisions for the business. In addition, the owners are requesting that you provide them with some suggestions on simple internal controls they can integrate to ensure protection of company assets, and accuracy in the company's financial data. The owners are also considering acquiring more long-term/fixed assets, such as vehicles, equipment, buildings, and so on. They would like your input on the different options available for depreciation of these costs. Adding sales of product is also a consideration for expansion. The owners want to know what accounting considerations will be involved with this change. 3. Summary: Write a summary of what the financial statements indicate about the company's financial health and performance. A. Purpose: Discuss the accounting process and the resulting financial statements as they relate to meeting the informational needs of the user. B. Process: Explain the process used to produce accurate account balances and financial statements from the individual transaction data. i. Consider what is being communicated through each of the financial statements you prepared (income statement, statement of equity and balance sheet) and how this information will be used in business decision making and planning. C. Analysis: Explain the company's cash position, its net income as a percentage of sales, and its current liabilities to current assets positio D. Results: Discuss the results regarding profitability of the first month of operations. i. Consider how well the company is positioned to meet current liabilities. ii. Be sure to include the percentage of revenues that result in profitet income and the current ratio when discussing profitability and liquidity based on the recorded month's results. iii. Consider key points in your observations of results: is the company operating profitably (what percent of revenues result in profitet income)? How well-poised are they to meet liabilities (discuss liquidity and current ratio)? E. Recommendations: Recommend a simple system of controls that can be implemented to ensure protection of company assets and the accuracy and integrity of their financial data as they anticipate further growth. i. Consider additional controls that will support the potential for adding merchandise and additional assets with business growth/expansion. F. Asset Valuation: Discuss the treatment of current and long-term assets on the balance sheet. i. Discuss at least two different methods of depreciation. Consider how the methods of depreciation will be determined. ii. Discuss how LIFO, FIFO, and average methods will differ and provide examples of types of applicable merchandising. iii. Consider how accounting will change with the addition of merchandise inventory. A Company Income Statement For Month ending 3/31/20XX Revenues Service Revenues Total Revenues \begin{tabular}{|l|l|} \hline$ & 6,225.00 \\ \hline $ & 6,225.00 \\ \hline \end{tabular} Operating Expenses: Rent Expense Business License Expense Insurance Expense Repairs and Maintenance Advertising Expense Wages Expense Utilities Expense Depreciation Expense Total Operating Expenses: \begin{tabular}{|rr|} \hline$ & 950.00 \\ \hline$ & 250.00 \\ \hline$ & 750.00 \\ \hline$ & 95.00 \\ \hline$ & 500.00 \\ \hline$ & 275.00 \\ \hline$ & 135.00 \\ \hline$ & 48.53 \\ \hline & \\ \hline & 3,000.00 \\ \hline \end{tabular} Net Income 3,224.17 The following events occurred in March: - March 1: Owner borrowed $125,000 to fund/start the business. The loan term is 5 years. - March 1: Owner paid $250 to the county for a business license. - March 2: Owner signed lease on office space; paying first (March 20XX) and last month's rent of $950 per month. - March 5: Owner contributed office furniture valued at $2,750 and cash in the amount of $15,000 to the business. - March 6: Owner performed service for client in the amount of $650. Customer paid in cash. - March 8: Owner purchased advertising services on account in the amount of $500. - March 10: Owner provided services to client on account, in the amount of $1,725. - March 15: Owner paid business insurance in the amount of $750. - March 20: The owner received first utility bill in the amount of $135, due in April. - March 20: Office copier required maintenance; owner paid $95.00 for copier servicing. - March 22: Owner withdrew $500 cash for personal use. - March 25: Owner paid $215 for office supplies. - March 25: Owner provided service to client in the amount of $350. Client paid at time of service. - March 30: Owner paid balance due for advertising expense purchase on March 8. - March 30: Received payment from customer for March 10 invoice in the amount of $1,725. - March 31: Last day of pay period; owner owes part-time worker $275 for the March 16 through March 31 pay period. This will be paid on April 5. - March 31: Provided service for client on account in the amount of $3,500. - March 31: Record depreciation of the office furniture at $45.83. After you have finished preparing all the financial statements, analyze the statements and write a short report summarizing your findings. Use the template provided in the What to Submit section to complete your report. There is also a Final Project Walkthrough video available in Supporting Materials that will provide guidance for completing your template. In addition to the financial statement results, the owners have requested that you provide them with additional information as further growth is anticipated. They would like more input from you to support the best possible decisions for the business. In addition, the owners are requesting that you provide them with some suggestions on simple internal controls they can integrate to ensure protection of company assets, and accuracy in the company's financial data. The owners are also considering acquiring more long-term/fixed assets, such as vehicles, equipment, buildings, and so on. They would like your input on the different options available for depreciation of these costs. Adding sales of product is also a consideration for expansion. The owners want to know what accounting considerations will be involved with this change. 3. Summary: Write a summary of what the financial statements indicate about the company's financial health and performance. A. Purpose: Discuss the accounting process and the resulting financial statements as they relate to meeting the informational needs of the user. B. Process: Explain the process used to produce accurate account balances and financial statements from the individual transaction data. i. Consider what is being communicated through each of the financial statements you prepared (income statement, statement of equity and balance sheet) and how this information will be used in business decision making and planning. C. Analysis: Explain the company's cash position, its net income as a percentage of sales, and its current liabilities to current assets positio D. Results: Discuss the results regarding profitability of the first month of operations. i. Consider how well the company is positioned to meet current liabilities. ii. Be sure to include the percentage of revenues that result in profitet income and the current ratio when discussing profitability and liquidity based on the recorded month's results. iii. Consider key points in your observations of results: is the company operating profitably (what percent of revenues result in profitet income)? How well-poised are they to meet liabilities (discuss liquidity and current ratio)? E. Recommendations: Recommend a simple system of controls that can be implemented to ensure protection of company assets and the accuracy and integrity of their financial data as they anticipate further growth. i. Consider additional controls that will support the potential for adding merchandise and additional assets with business growth/expansion. F. Asset Valuation: Discuss the treatment of current and long-term assets on the balance sheet. i. Discuss at least two different methods of depreciation. Consider how the methods of depreciation will be determined. ii. Discuss how LIFO, FIFO, and average methods will differ and provide examples of types of applicable merchandising. iii. Consider how accounting will change with the addition of merchandise inventory. A Company Income Statement For Month ending 3/31/20XX Revenues Service Revenues Total Revenues \begin{tabular}{|l|l|} \hline$ & 6,225.00 \\ \hline $ & 6,225.00 \\ \hline \end{tabular} Operating Expenses: Rent Expense Business License Expense Insurance Expense Repairs and Maintenance Advertising Expense Wages Expense Utilities Expense Depreciation Expense Total Operating Expenses: \begin{tabular}{|rr|} \hline$ & 950.00 \\ \hline$ & 250.00 \\ \hline$ & 750.00 \\ \hline$ & 95.00 \\ \hline$ & 500.00 \\ \hline$ & 275.00 \\ \hline$ & 135.00 \\ \hline$ & 48.53 \\ \hline & \\ \hline & 3,000.00 \\ \hline \end{tabular} Net Income 3,224.17