Consider what is being communicated through each of the financial statements you prepared (income statement, stat equity and balance sheet) and how this information will be used in business decision making and planning. ysis: Explain the company's cash position, its net income as a percentage of sales, and its current liabilities to current a ults: Discuss the results regarding profitability of the first month of operations. Consider how well the company is positioned to meet current liabilities. Be sure to include the percentage of revenues that result in profitet income and the current ratio when discussing and liquidity based on the recorded month's results. ii. Consider key points in your observations of results: is the company operating profitably (what percent of revenues res profitet income)? How well-poised are they to meet liabilities (discuss liquidity and current ratio)? commendations: Recommend a simple system of controls that can be implemented to ensure protection of company as: curacy 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 busines growth/expansion. sset 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. o Submit te this project, you must submit the following: Accounting Workbook kbook should be completed and submitted as a Microsoft Excel file based on the template provided. Consider what is being communicated through each of the financial statements you prepared (income statement, stat equity and balance sheet) and how this information will be used in business decision making and planning. ysis: Explain the company's cash position, its net income as a percentage of sales, and its current liabilities to current a ults: Discuss the results regarding profitability of the first month of operations. Consider how well the company is positioned to meet current liabilities. Be sure to include the percentage of revenues that result in profitet income and the current ratio when discussing and liquidity based on the recorded month's results. ii. Consider key points in your observations of results: is the company operating profitably (what percent of revenues res profitet income)? How well-poised are they to meet liabilities (discuss liquidity and current ratio)? commendations: Recommend a simple system of controls that can be implemented to ensure protection of company as: curacy 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 busines growth/expansion. sset 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. o Submit te this project, you must submit the following: Accounting Workbook kbook should be completed and submitted as a Microsoft Excel file based on the template provided