Suppose you are a part of the senior management of a company that is in financial distress.

Which of the following issues would you focus on addressing immediately? Check all that apply.

Identify whether the debt obligations are more than the asset values or whether it is a temporary cash flow problem because the firm cannot make its debt payments.

Identify whether the firm$$s long$-$run assets have suffered economic losses; if they have, then identify who should bear the losses.

Identify strategies for the modified distribution policy for the following year.

Estimate the worth of the business if it remains in operation versus if it were liquidated.

Identify different strategies to increase revenues in the long run that will help service long$-$term debt.