Financial data for JKL Enterprises for the year ended December 31, 2023, is as follows:

Balance Sheet as of December 31, 2023

• Cash: $220,000
• Accounts Receivable: $480,000
• Inventory: $520,000
• Prepaid Expenses: $40,000
• Property, Plant, and Equipment (Net): $1,600,000
• Total Assets: $2,860,000

Liabilities and Equity

• Accounts Payable: $290,000
• Short-term Debt: $210,000
• Long-term Debt: $850,000
• Common Stock: $1,200,000
• Retained Earnings: $310,000
• Total Liabilities and Equity: $2,860,000

Income Statement for the year ended December 31, 2023

• Sales: $3,000,000
• Cost of Goods Sold: $1,800,000
• Operating Expenses: $700,000
• Interest Expense: $60,000
• Taxes (30%): $132,000
• Net Income: $308,000

Evaluate JKL Enterprises' financial status by analyzing (i) liquidity, (ii) solvency, (iii) profitability, and (iv) activity ratios.