Hi, do you think calculations would be helpful in interpreting the financial statement

100% $ . U 123 Calibri 12 B 5 A 4. + Y B fx A B ? Background B C D E F G H I J K L M N 6 Instruction Please refer to tab 1 and 2 for the company's financial statements and answer the below questions. Please provide your answer in the space provided. (Note: Feel free to reformat or add notes or caculations in tab 1 and 2 as needed.) Based on your review and analysis, do you identify any data that can be a potential error? 9 10 Question 1 Answer By reviewing the financials, can you identify any issues with the business's operations? Question 2 Answer 12 13 14 15 Question 3 Answer What are some differences you have observed between ABC and other traditional big brand competitors (LG, Samsung, Boch, Whirpool)? Question 4 If ABC plans to grow more aggressively in 2020 by adding new product lines and expanding to new marketplaces, what will be some potential challenges? Please ignore the current market condition due to COVID-19. Answer 21 Question 5 Answer What are your recommedations for ABC to improve its financial perfomance? ABC Appliances Inc. ABC Appliances Inc. Balance Sheet As of March 25, 2020 Total 188,790 11 12 158,165 987,916 1,146,081 1,334,871 15 7,134 39,943 (3,333) 36,610 18 19 ASSETS Current Assets Total Cash Other Current Assets Due to from related parties Inventory Total Other Current Assets Total Current Assets Fixed Assets Computers & Equipment Machinery & Equipment Accumulated Depreciation, Equipment Total Machinery & Equipment Real Property 1 Depreciation Original cost Total Real Property 1 Total Fixed Assets TOTAL ASSETS LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable Total Accounts Payable Credit Cards Total Credit Cards n+hor Current liabilities (60,448) 569,939 509,491 553,234 1,888,105 25 26 27 28 975,525 975,525 30 (48,176) 33 + Questions 1. Balance Sheet 2. Profit and Loss ABC Appliances Inc. A 429 1,484 52 262,720 97 181 434 265,397 1,192,745 27,960 508,502 Other Current Liabilities Federal Payroll Taxes Payable FICA Tax Payable FUTA Tax Payable Income Taxes Payable Loan Payable Payroll Clearing SDI/SUI Tax Payable State Payroll Taxes Payable SUTA Payable Total Other Current Liabilities Total Current Liabilities Long-Term Liabilities Equipment Payable Other Long-term Liabilities Vehicles Payable Vehicles Payable - Mercedes Vehicles Payable - Porsche Total Vehicles Payable Total Long-Term Liabilities Total Liabilities Equity Opening Balance Equity Retained Earnings Stockholders Equity Capital Contributions Owner's Draw Total Stockholders Equity Net Income Total Equity TOTAL LIABILITIES AND EQUITY (46,985) (90,101) (137,086) 399,376 1,592,121 136,209 (654,106) 76,805 (12,212) 64,594 749,287 295,984 1,888,105 100% $ . U 123 Calibri 12 B 5 A 4. + Y B fx A B ? Background B C D E F G H I J K L M N 6 Instruction Please refer to tab 1 and 2 for the company's financial statements and answer the below questions. Please provide your answer in the space provided. (Note: Feel free to reformat or add notes or caculations in tab 1 and 2 as needed.) Based on your review and analysis, do you identify any data that can be a potential error? 9 10 Question 1 Answer By reviewing the financials, can you identify any issues with the business's operations? Question 2 Answer 12 13 14 15 Question 3 Answer What are some differences you have observed between ABC and other traditional big brand competitors (LG, Samsung, Boch, Whirpool)? Question 4 If ABC plans to grow more aggressively in 2020 by adding new product lines and expanding to new marketplaces, what will be some potential challenges? Please ignore the current market condition due to COVID-19. Answer 21 Question 5 Answer What are your recommedations for ABC to improve its financial perfomance? ABC Appliances Inc. ABC Appliances Inc. Balance Sheet As of March 25, 2020 Total 188,790 11 12 158,165 987,916 1,146,081 1,334,871 15 7,134 39,943 (3,333) 36,610 18 19 ASSETS Current Assets Total Cash Other Current Assets Due to from related parties Inventory Total Other Current Assets Total Current Assets Fixed Assets Computers & Equipment Machinery & Equipment Accumulated Depreciation, Equipment Total Machinery & Equipment Real Property 1 Depreciation Original cost Total Real Property 1 Total Fixed Assets TOTAL ASSETS LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable Total Accounts Payable Credit Cards Total Credit Cards n+hor Current liabilities (60,448) 569,939 509,491 553,234 1,888,105 25 26 27 28 975,525 975,525 30 (48,176) 33 + Questions 1. Balance Sheet 2. Profit and Loss ABC Appliances Inc. A 429 1,484 52 262,720 97 181 434 265,397 1,192,745 27,960 508,502 Other Current Liabilities Federal Payroll Taxes Payable FICA Tax Payable FUTA Tax Payable Income Taxes Payable Loan Payable Payroll Clearing SDI/SUI Tax Payable State Payroll Taxes Payable SUTA Payable Total Other Current Liabilities Total Current Liabilities Long-Term Liabilities Equipment Payable Other Long-term Liabilities Vehicles Payable Vehicles Payable - Mercedes Vehicles Payable - Porsche Total Vehicles Payable Total Long-Term Liabilities Total Liabilities Equity Opening Balance Equity Retained Earnings Stockholders Equity Capital Contributions Owner's Draw Total Stockholders Equity Net Income Total Equity TOTAL LIABILITIES AND EQUITY (46,985) (90,101) (137,086) 399,376 1,592,121 136,209 (654,106) 76,805 (12,212) 64,594 749,287 295,984 1,888,105