The Smetana Company has a commercial activity in the sector of beauty products and cosmetics.
Required
1. With the help of the balance sheet, income statement, and additional information (see Assignment 14.2 Smetana Company (1), in Chapter 14), prepare a simplified balance sheet with three sub-headings in the assets and three sub-headings in the equity and liabilities for the years X1, X2, and X3 (see Table 15.2).
2. Prepare a statement showing the financial structure of the company for the years X1, X2, and X3 (i.e., compute the working capital, working capital need and net cash).
3. Comment these statements.