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HP Inc. provided the following balances as of September 30, 2023: Accounts Amount ($) Cash 5,000,000 Accounts Receivable 9,000,000 Inventory 6,000,000 Accounts Payable 4,000,000 Salaries
HP Inc. provided the following balances as of September 30, 2023:
Accounts | Amount ($) |
Cash | 5,000,000 |
Accounts Receivable | 9,000,000 |
Inventory | 6,000,000 |
Accounts Payable | 4,000,000 |
Salaries Payable | 1,800,000 |
Common Stock | 25,000,000 |
Retained Earnings | 3,000,000 |
Requirements:
- Prepare a Balance Sheet as of September 30, 2023.
- Calculate the Current Ratio.
- Determine the Working Capital.
- Analyze the liquidity position.
- Identify potential financial issues based on the Balance Sheet.
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