You are tasked with assessing the financial health of DEF Inc. for the fiscal year ending December 31, 2023. Utilize the provided financial data to analyze the company's liquidity, solvency, and profitability, and propose actionable recommendations to address any identified weaknesses.

Financial Data:

• Total assets: $300,000,000
• Total liabilities: $200,000,000
• Total equity: $100,000,000
• Net income for the year: $15,000,000
• Cash and cash equivalents: $40,000,000
• Accounts receivable: $50,000,000
• Inventory: $70,000,000
• Property, plant, and equipment: $140,000,000
• Long-term debt: $120,000,000
• Accounts payable: $60,000,000
• Accrued expenses: $20,000,000
• Revenue for the year: $600,000,000
• Cost of goods sold: $240,000,000
• Operating expenses: $180,000,000
• Income tax expense: $22,000,000