Requirement 1: Calculate the net income for a company with the following income statement:

• Revenue: $100,000
• Cost of Goods Sold: $40,000
• Operating Expenses: $20,000
• Interest Expense: $3,000
• Tax Expense: $5,000

Requirement 2: Prepare a balance sheet for the company with the following details:

• Assets:
  • Cash: $5,000
  • Accounts Receivable: $10,000
  • Inventory: $20,000
  • Property, Plant, and Equipment: $50,000
• Liabilities:
  • Accounts Payable: $7,000
  • Notes Payable: $8,000
  • Long-term Debt: $15,000
• Equity:
  • Common Stock: $30,000
  • Retained Earnings: $20,000

Requirement 3: Compute the company's key financial ratios:

• Current Ratio: (Current Assets / Current Liabilities)
• Quick Ratio: (Current Assets - Inventory) / Current Liabilities)
• Debt-to-Equity Ratio: (Total Liabilities / Total Equity)
• Return on Assets: (Net Income / Total Assets)

Requirement 4: Evaluate the company's financial health based on the ratios calculated.