You are tasked with analyzing the financial performance of RST Corporation for the fiscal year ending December 31, 2023. Based on the provided financial data, conduct a comprehensive evaluation of the company's financial health, identify any potential areas of concern, and propose actionable recommendations to address them.

Financial Data:

• Total assets: $220,000,000
• Total liabilities: $150,000,000
• Total equity: $70,000,000
• Net income for the year: $8,000,000
• Cash and cash equivalents: $30,000,000
• Accounts receivable: $35,000,000
• Inventory: $45,000,000
• Property, plant, and equipment: $90,000,000
• Long-term debt: $80,000,000
• Accounts payable: $40,000,000
• Accrued expenses: $15,000,000
• Revenue for the year: $300,000,000
• Cost of goods sold: $120,000,000
• Operating expenses: $80,000,000
• Income tax expense: $10,000,000