Please help me solve the problem below by providing analysis, solving the accounting problems and writing the accounting statement applicable.

The issue: Housekeeping Ethan After graduating from a diploma of business administration in Vancouver, Ethan got hired as an executive assistant to Fred, the director of operations at a local tech company. He has been working at the job for the past three months. His role includes scheduling and attending meetings, sending emails, and booking travel and entertainment for visitors to the company headquarters in Vancouver. He works part-time 5 days a week from 8 am to noon and is paid about $30,000 a year. During his free time, Ethan volunteers as a cleaner for a not-for-profit organization called Keeping It Clean. The organization supports people with mental and physical disabilities by helping to keep their homes clean. The organization is run by donations made possible by large corporate donors and community partners, as well as volunteers like Ethan .

Although he enjoys the hustle and bustle of the corporate environment, Ethan feels much more satisfied by his volunteer work with Keeping It Clean. Sensing that he may not be happy, Fred has offered Ethan a full-time position with the company, upping his salary to $65,000 per year plus benefits. At the same time, due to his enthusiasm and great effort at Keeping It Clean, the President of the non-for-profit organization has offered his a position as Head Coordinator. This position would entail working more complex jobs and scheduling/coordinating the others volunteers within the organization.

Even though Ethan is excited about both offers, he has always wanted to pursue entrepreneurship. Hence, he is contemplating starting his own cleaning business. To kick things off, he has done some research and gathered some numbers. Admittedly, accounting was his worst subject in his diploma, so he is seeking your help in analyzing his options.

Ethan sees a trend of individuals getting busier, and consequently, lacking the time or energy to keep their homes clean and organized. With his home cleaning/organizing business, he could help people maintain tidy and organized homes. Also, due to the pandemic, corporations and larger residential complexes are seeking more frequent cleaning in an effort to reduce pathogens, viruses, and bacteria. With the help of his parents, Ethan has saved $7,500 to invest in his business.

If he were to start his own housekeeping business, Emmi these gures: I Type Cost Frequency Average Tasks Time House $thour Once a week General Housekeeping, dusting, cleaning for bathrooms, kitchen deep scrub, individuals mopping floors, and vacuuming. Common Twice a week lvacuuming hallways, spraying Areas of down windows and doors, Residential cleaning walls and floor of Building elevatorsr cleaning gym or common facilities in apartment buildings. Corporate $35fhour Five days a Daily dusting and cleaning floors. Cleaning week cleaning surfaces, and restocking supplies and emptying trash cans. Cleaning individual ofces, restrooms. break rooms. and common areas. Special $T5fhour As neededr Minimum of Specialized cleaning or organizing Projects likely once a 16 hours projects, such as deep cleaning season [usually carpets or organizing files. spread across a weekend] W High Flat S100 lv'acation short term rental frequency dunng tourism seasons winter and summer per cleaning. lv'aries from 1 hour to 3 hours properties that need to be cleaned between stays.