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Given the balance sheet and income statement, summarize the major changes from 2022. 2022 2023 2022 2023 Total Revenue $1,520,000 $1,540,000 Cash $39,000 $46,000 Other
Given the balance sheet and income statement, summarize the major changes from 2022.
2022 | 2023 | 2022 | 2023 | |||
Total Revenue | $1,520,000 | $1,540,000 | Cash | $39,000 | $46,000 | |
Other Current Assets | 180,000 | 174,000 | ||||
Expenses | Fixed Assets | 981,000 | 1,050,000 | |||
Salaries & Benefits | $854,000 | $894,000 | Total Assets | $1,200,000 | $1,270,000 | |
Supplies | 470,000 | 475,000 | ||||
Depreciation | 93,000 | 89,000 | Current Liabilities | $112,000 | $135,000 | |
Interest | 24,000 | 22,000 | Long Term Debt | 301,000 | 288,000 | |
Total Expense | $1,441,000 | $1,480,000 | Total Liabilities | $413,000 | $423,000 | |
Net Income | $79,000 | $60,000 | Net Worth | $787,000 | $847,000 | |
Liquidity | 2022 | 2023 | % change | |||
Current ratio | 2 | 1.6 | -16.70% | |||
Days cash on hand | 10.6 | 12.1 | 14.30% | |||
Capital Structure | ||||||
Equity financing | 65.60% | 66.70% | 1.70% | |||
Times interest earned | 4.3 | 3.7 | -13.20% | |||
Turnover | ||||||
Total asset turnover | 1.3 | 1.2 | -4.30% | |||
Current asset turnover | 6.9 | 7 | 0.90% | |||
Fixed asset turnover | 1.5 | 1.5 | -5.30% | |||
Profitability | ||||||
Total margin | 5.20% | 3.90% | -25.00% | |||
ROA | 6.60% | 4.70% | -28.20% | |||
ROE | 10.00% | 7.10% | -29.40% |
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