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QRS Inc.'s financial statements for the year ended December 31, 2023, are as follows. Balance Sheet as of December 31, 2023 Cash: $310,000 Marketable Securities:
QRS Inc.'s financial statements for the year ended December 31, 2023, are as follows.
Balance Sheet as of December 31, 2023
- Cash: $310,000
- Marketable Securities: $200,000
- Accounts Receivable: $420,000
- Inventory: $550,000
- Prepaid Expenses: $70,000
- Property, Plant, and Equipment (Net): $2,000,000
- Total Assets: $3,550,000
Liabilities and Equity
- Accounts Payable: $350,000
- Short-term Loans: $250,000
- Long-term Debt: $1,000,000
- Common Stock: $1,300,000
- Retained Earnings: $650,000
- Total Liabilities and Equity: $3,550,000
Income Statement for the year ended December 31, 2023
- Revenue: $3,800,000
- Cost of Goods Sold: $2,200,000
- Operating Expenses: $900,000
- Interest Expense: $80,000
- Taxes (30%): $180,000
- Net Profit: $440,000
Evaluate QRS Inc.'s financial health from the perspectives of (i) liquidity, (ii) leverage, (iii) profitability, and (iv) efficiency.
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