In approximately one to two paragraphs, express your opinion on Allenby Honey's financial state at the end of the first quarter of 2023. Topics you may want to discuss include: the company's profitability, the portion of those profits the company retains, the amount of debt the company is carrying, the level of inventory the company has on hand, and the amount of plant assets the company has to work with. Current Assets: Cash Equity Investments Fair Value Adjustment Finished Goods Inventory WIP Inventory Raw Materials Inventory Accounts Receivable Supplies Total Current Assets Noncurrent Assets: Buildings Less: Acc. Dep. - Buildings Equipment Less: Acc. Dep. - Equipment HTM Debt Investments Total Noncurrent Assets Total Assets Assets $ 50,000 50,000 2,000,000 (25,000) 2,400,000 (10,000) $ 7,954,854 100,000 300,000 150,000 250,000 1,000,000 50,000 1,975,000 2,390,000 600,000 Allenby Honey Classified Balance Sheet 31-Mar-23 S Current Liabilities: Accounts Payable Salaries Payable Current Portion of Notes Payable Current Portion of Mortages Payable Total Current Liabilities $ 9,804,854 Bonds Payable 14,769,854 Long-term Debt: Long-term Portion of Notes Payable Long-term Portion of Mortages Payable Discount on Bonds Payable Total Long-term Debt Total Liabilities Stockholders' Equity Common Stock-$3 par PIC-Common 4,965,000 Preferred Stock-$40 par PIC-Preferred PIC-Treasury Total Paid-in Capital Less: Treasury Stock-Common Retained Earnings Unrealized Holding Gain Total Stockholders' Equity Total Liabilities & Stockholders Equity Liabilities 1,000,000 (19,000) $ 340,000 25,000 160,000 34,473 280,000 1,757,381 981,000 1,500,000 8,300,000 800,000 100,000 450,000 $ $ 559,473 3,018,381 3,577,854 11,150,000 (600,000) 592,000 50,000 11,192,000 14,769,854