Assets $2020$

Current Assets

Cash $11,874$

Accounts receivable $24,000$

Inventory $35,000$

Prepaid expenses

Short$-$term investments

Total current assets $ $70,874$

Fixed $($Long$-$Term$)$ Assets

Long$-$term investments $1,208$

Property, plant, and equipment $15,340$

$($Less accumulated depreciation$)(2,200)$

Intangible assets

Total fixed assets $ $14,348$

Other Assets

Deferred income tax

Other

Total Other Assets $ $-$

Total Assets $ $85,222$

$[42]$ Liabilities and Owner's Equity

Current Liabilities

Accounts payable $8,060$

Short$-$term loans $35,000$

Income taxes payable $3,145$

Accrued salaries and wages

Unearned revenue

Current portion of long$-$term debt

Total current liabilities $ $46,205$

Long$-$Term Liabilities

Long$-$term debt $3,450$

Deferred income tax

Other

Total long$-$term liabilities $ $3,450$

Owner's Equity

Owner's investment $7,178$

Retained earnings $28,389$

Other

Total owner's equity $ $35,567$

Total Liabilities and Owner's Equity $ $85,222$

Revenue $2020$

Sales revenue $75,000$

$($Less sales returns and allowances$)$

Service revenue $15,000$

Interest revenue

Other revenue

Total Revenues $90,000$

Expenses

Advertising $1,000$

Bad debt $25,000$

Commissions

Cost of goods sold $35,000$

Depreciation

Employee benefits

Furniture and equipment

Insurance

Interest expense $4,200$

Maintenance and repairs

Office supplies

Payroll taxes

Rent

Research and development

Salaries and wages $25,500$

Software

Travel

Utilities

Web hosting and domains

Other $5,500$

Total Expenses $96,200$

Net Income Before Taxes $(6,200)$

Income tax expense $14,936$

Income from Continuing Operations $(21,136)$

Net Income $(21,136)$

A short segue paragraph introducing the reader to your analysis of Wholesome Foods financial statements $($Balance Sheet and Income Statement$).$

Identify and explain accounts you presume to be financially $$risky$$ or a concern. Explain why.