PLEASE ANSWER QUESTIONS 7 AND 8 FOR STUDY PURPOSES. ***

The following is a balance sheet for AGE IN PLACE, a private consulting business specializing in older adult independent living, health, and lifestyle (anyone really want to start a business? get in touch with me Im interested in developing a consulting business related to one or more of the following: health, recreation/leisure, aging, community, physical activity or disability, org/admin). Some of the information on the balance sheet is missing. Using the information provided in the Balance Sheet, answer the corresponding questions. FOR FULL MARKS MAKE SURE YOU EXPALIN HOW YOU DETERMINED THE ANSWER. ASSETS Current assets Cash and cash equivalents 426 Short-term investments - Accounts receivable 98,406 Bad Debt - Inventories 62,800 Total current assets $ ??? Fixed assets Property, buildings and equipment 430,000 Accumulated depreciation (19000) Total fixed assets $ ??? Other assets Long-term cash investments - Equity investments - Other assets - Total other assets $ - Total assets $ ??? LIABILITIES & OWNERS' EQUITY Current liabilities Accounts payable (26,440) Short-term bank loan (6,650) Total current liabilities $ ??? Noncurrent/Fixed Liabilities Long-term debt (380,000) Total other liabilities $ (380,000) Total liabilities ???

Total owners' equity ??? Total liabilities + owners' equity ??? Note: dashes (-) = 0; brackets = negative numbers 7) Looking at the balance sheet, what are the weaknesses of the company? 8) Would you invest in this company? Why or why not?