• Highlight at least 2 strengths, and 2 weaknesses, and 2 opportunities based on these calculated changes. You may do more than 2 but not more than 5.
• Based on the above strengths, weaknesses, and opportunities, what operational aspects should the business focus on for next year?

Income Statement 0 Sales Costs of Goods Sold Gross Profit Accounting Advertising Automobile Insurance Legal 2017 400,000 200,000 200,000 10,000 20,000 50,000 10,000 80,000 2018 $ Change % Change 500,000 100,000 25.0% 300,000 100,000 50.0% 200,000 0.0% 5,000 (5,000) -50.0% 10,000 (10,000) -50.0% 40,000 (10,000) -20.0% 5,000 (5,000) -50.0% 20,000 (60,000) -75.0% Meals & Entertainment 60,000 Processing Fees Professional Fees Repairs Salaries Supplies 60,000 90,000 70,000 100,000 50,000 600,000 (400,000) 20,000 80,000 20,000 10,000 40,000 40,000 290,000 (90,000) (40,000) 20,000 (70,000) (60,000) (60,000) (10,000) (310,000) 310,000 -66.7% 33.3% -77.8% -85.7% -60.0% -20.0% -51.7% -77.5% Net Income (Loss) Balance Sheet Cash Accounts Receivable Inventory Fixed Assets 2,017 500,000 100,000| 40,000 700,000 2018 800,000 70,000 30,000 800,000 300,000 -30,000 -10,000 100,000 60.0% -30.0% -25.0% 14.3% Accumulated Depreciation -140,000 -300,000 1,200,000 1,400,000|| 114.3% -160,000 200,000 Total Assets 16.7% Accounts Payable Credit Cards Bank Loans Total Liabilities 80,000 70,000 200,000 350,000 100,000 50,000 500,000 650,000 20,000 -20,000 300,000 300,000 25.0% -28.6% 150.0% 85.7% 0 0.0% 20.0% Equity J North, Capital J North, Drawing Retained Earnings Net Income (Loss) Total Equity 800,000 -50,000 500,000 -400,000 850,000 800,000 -60,000 100,000 -90,000 750,000 -80.0% -10,000 -400,000 310,000 -100,000 -77.5% -11.8% Total Liabilities and Equity 1,200,000 1,400,000 200,000 16.7%