It is 2020 and you've been called back in to analyze the company's financial health. The current balance sheet and income statement are provided below. DIRECTIONS Analyze both financial statements provided below. Identify any areas of financial concerns. Provide detailed explanations. Start with an overall summary of the financial statement, then identify any accounts specifically that are or can present financial problems for the business. Provide several strategies of financing the business if needed. Explain and detail your strategies Wholesome Foods Balance Sheet 2020 Assets Current Assets Cash Accounts receivable Inventory Prepaid expenses Short-term investments Fixed (Long-Term) Assets Long-term investments Property, plant, and equipment (Less accumulated depreciation) Intangible assets Other Assets Deferred income tax Other Total Assets Liabilities and Owner's Equity Current Liabilities Accounts payable Short-term loans Total current assets $ Long-Term Liabilities Long-term debt Deferred income tax Other Owner's Equity Income taxes payable Accrued salaries and wages Unearned revenue Current portion of long-term debt Owner's investment Retained earnings Other Total fixed assets $ Total Other Assets $ $ Total current liabilities $ Total long-term liabilities $ Total owner's equity $ $ Total Liabilities and Owner's Equity 11,874 24,000 35,000 70,874 1,208 15,340 (2,200) 14,348 85,222 8,060 35,000 3,145 46,205 3,450 3,450 7,178 28,389 35,567 85,222 2020 Wholesome Foods Income Statement Revenue Sales revenue (Less sales returns and allowances) Service revenue Interest revenue Other revenue Total Revenues Expenses Advertising Bad debt Commissions Cost of goods sold Depreciation Employee benefits Furniture and equipment Insurance Interest expense Maintenance and repairs Office supplies Payroll taxes Rent Research and development Salaries and wages Software Travel Utilities Web hosting and domains Other Total Expenses Net Income Before Taxes Income tax expense Income from Continuing Operations Net Income 75,000 15,000 90,000 1,000 25,000 35,000 4,200 25,500 5,500 96,200 (6,200) 14,936 (21,136) (21,136) 2020