Utilizing the attached balance sheet, create a memo to the Board of Directors regarding the budget proposal for next fiscal year. I need help figuring out this assigment. Create a memo that identifies the three major areas of concern over the past year. For each of the three areas of concern: Use the memo template in Microsoft Word (or another template) to format the memo. Summarize the current status in 75 words or less. Recommend one possible solution for improvement or sustainability for the Board to consider when voting to approve next years budget. ASSETS		2016	2017
Current Assets:
Cash and cash equivalents		$125,000	$200000
Short-term investments		$575	$600
Accounts receivable		$1500	$1700
Inventories		$135	$150
Total Current Assets		$127210	$202450
Investments:		$800	$850
Property & Equipment:
Medical equipment		$600	$650
Office equipment		$250	$800
Total		$850	$1450
Accumulated depreciation		($126)	($135)
Total Assets:		$128734	$204615
LIABILITIES & EQUITY
Current Liabilities:
Salaries		$175000	$225000
Benefits		$1750	$2500
Accrued expenses		$1100	$1200
Bad debt		$375	$1500
Total current liabilities		$178225	$230200
Long-Term Debt		$1500	$1500
Total Liabilities & Equity		$179725	$231700