Case Study: XYZ Corporation Financial Statements Analysis Background: XYZ Corporation is a multinational company operating in the technology sector. The company has recently released its annual financial statements for the fiscal year ending December 31,2022. As an accounting professional tasked with analyzing the financial statements, you are required to provide insights and answers to some critical questions. Financial Statements Overview: Income Statement: Total Revenue: $5 billion Cost of Goods Sold (COGS): \$2 billion Operating Expenses: \$1 billion Net Income: \$2 billion Balance Sheet (Selected Items): Total Assets: $10 billion Total Liabilities: $4 billion Shareholders' Equity: $6 billion Cash Flow Statement (Operating Activities): Net Cash from Operating Activities: $2.5 billion Net Cash Used in Investing Activities: \$1 billion Net Cash Provided by Financing Activities: $0.5 billion Questions: Financial Performance Analysis: Evaluate XYZ Corporation's financial performance based on the provided income statement and balance sheet. What key insights can you gather regarding the company's profitability, liquidity, and overall financial health? Cash Flow Assessment: Analyze the cash flow statement, particularly focusing on operating, investing, and financing activities. What does the cash flow statement reveal about the company's ability to generate cash internally, invest in its operations, and manage its financing activities effectively? Conclusion: Provide a comprehensive analysis of XYZ Corporation's financial statements, considering the questions posed. Use relevant financial ratios and indicators to support your analysis. This case study aims to test your understanding of financial statement analysis and your ability to draw meaningful conclusions about a company's financial health based on the information provided