Discuss key points on observations of results: Is the company operating profitably $($what percent of revenues result in profit$/$net income$)?$ How well poised are they to meet liabilities $($discuss liquidity and current ratio$)?$ discuss accounting considerations associated with the acquisition of additional long term$/$fixed assets, and the addition of merchandise inventory. How will the company account for the costs of long$-$term assets? How will the method of depreciation be determined? $($Expand on $2$ different methods of depreciation to demonstrate ideal application$).$ How does accounting change with the addition of merchandise inventory? How will it be determined which inventory costing method to apply? $($Discuss how the FIFO, LIFO, and Average methods differ and provide examples of the types of merchandising scenarios that would be ideally applicable in each case.