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What is accumulated deficit? What causes it to decrease? What would cause it to increase? Has this Company correctly presented its 12/31/2022 Accumulated Deficit, and

What is accumulated deficit? What causes it to decrease? What would cause it to increase? Has this Company correctly presented its 12/31/2022 Accumulated Deficit, and why?

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image text in transcribed Balance Sheet Income Statement Technical Challenge Ques Balance Sheet 12/31/21 12/31/22 \begin{tabular}{|l|r|r|} \hline Current assets & & \\ \hline Cash and cash equivalents & 19,759,329 & 82,295,021 \\ \hline Accounts receivable, net of allowance & 6,206,572 & 13,682,603 \\ \hline Unbilled receivables & 417,950 & 352,017 \\ \hline Prepaid expenses and other current assets & 131,811 & 309,672 \\ \hline Total current assets & 26,515,662 & $96,639,313 \\ \hline & 56,857 & 236,859 \\ \hline Computer Equipment,Furniture, Vehicles, net of accumulated depreciation & 546,083 & 1,409,243 \\ \hline Software development costs, net of accumulated amortization & 154,207 & 882,618 \\ \hline Deposits & 27,272,809 & $99,168,032 \\ \hline Total assets & 927 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline Current liabilities & & \\ \hline Accounts payable - third parties & 1,114,942 & 2,464,700 \\ \hline Accounts payable - related parties & 409,170 & \\ \hline Accrued expenses & 521,209 & 365,027 \\ \hline Total current liabilities & 2,045,321 & $2,829,727 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline Stockholders' equity & & \\ \hline Common stock & 750 & 750 \\ \hline Preferred stock - Series A & 6,128,745 & 6,128,745 \\ \hline Preferred stock - Series B & 21,529,605 & 21,529,605 \\ \hline Preferred stock - Series C & & 80,000,000 \\ \hline Additional paid-in capital & 6,500 & 6,500 \\ \hline Accumulated deficit & (2,438,112) & (11,327,295) \\ \hline Total stockholders' equity & $25,227,488 & $96,338,305 \\ \hline Total liabilities and stockholders' equity & $27,272,809 & $99,168,032 \\ \hline \end{tabular}

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