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PART III. UPLOAD ANALYsis Memo to Canvas, 10 poIntS. Analyze your results for Business Solutions by answering the specific questions on the provided memo form in Canvas. The following questions should be answered in your analysis, your writing must be in your own work. Based on your financial statements for Business Solutions answer the following questions: 1. Complete the accounting equation for Business Solutions using the amounts in this format: $=$ 2. In discussing Business Solutions latest financial statements, you as the manager say that it is the "the net income results on the bottom line" that really count. What do you mean? Which financial statement are you referring to? Are the results reflected satisfactory? Explain your answers. 3. Does Business Solutions have enough cash to pay its liabilities on December 31,2020? Please list the December 31 balance of cash, subtract the amount of total current liabilities and calculate the overage or shortfall cash amount. Does Business Solutions need to improve this situation? If your answer is that no improvement is needed, please describe what they are doing correctly. If your answer is yes improvement is needed, please provide a suggestion on how the company may improve. er the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,202 adjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2020) follows. Business Solutions had the following transactions and events in December 2020. December 2. Paid $960 cash to Hillside Mall for Business solutions's share of mall advertising costs. December 3 Paid $440 cash for minor repairs to the company' ' computer. December 4 Received $4,750 cash from Alex's Engineering co. for the receivable from November. December 10 Paid eash to Lyn Addie for six days of work at the rate of $100 per day. Deeember 14 totified by Alex's Engineering Company that Buisiness solutions's bid of $7,800 on a propolled project has been aceepted. Alex's paid a $2,100 cash advance to businens solutions. December 15 Purehased $1,900 of computer supplien on eredit from Harris office Product.. Decenber 16 sent a rominder to Goesez Company to pay the tee for aervicen recorded on November 8. December 20 completed a project for Liu corporation and received $5,875cash. December 22-26 took the week off for the holidays. December 28 recelved $3,200 cauh from Gomez Company on its receivable. December 29 Reimbarsed S. Rey tor buoiness automobile mileage (600 miles at $0.30 per mile ). December 31 The conpany paid $1,400 caah in dividends. PART III. UPLOAD ANALYsis Memo to Canvas, 10 poIntS. Analyze your results for Business Solutions by answering the specific questions on the provided memo form in Canvas. The following questions should be answered in your analysis, your writing must be in your own work. Based on your financial statements for Business Solutions answer the following questions: 1. Complete the accounting equation for Business Solutions using the amounts in this format: $=$ 2. In discussing Business Solutions latest financial statements, you as the manager say that it is the "the net income results on the bottom line" that really count. What do you mean? Which financial statement are you referring to? Are the results reflected satisfactory? Explain your answers. 3. Does Business Solutions have enough cash to pay its liabilities on December 31,2020? Please list the December 31 balance of cash, subtract the amount of total current liabilities and calculate the overage or shortfall cash amount. Does Business Solutions need to improve this situation? If your answer is that no improvement is needed, please describe what they are doing correctly. If your answer is yes improvement is needed, please provide a suggestion on how the company may improve. er the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,202 adjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2020) follows. Business Solutions had the following transactions and events in December 2020. December 2. Paid $960 cash to Hillside Mall for Business solutions's share of mall advertising costs. December 3 Paid $440 cash for minor repairs to the company' ' computer. December 4 Received $4,750 cash from Alex's Engineering co. for the receivable from November. December 10 Paid eash to Lyn Addie for six days of work at the rate of $100 per day. Deeember 14 totified by Alex's Engineering Company that Buisiness solutions's bid of $7,800 on a propolled project has been aceepted. Alex's paid a $2,100 cash advance to businens solutions. December 15 Purehased $1,900 of computer supplien on eredit from Harris office Product.. Decenber 16 sent a rominder to Goesez Company to pay the tee for aervicen recorded on November 8. December 20 completed a project for Liu corporation and received $5,875cash. December 22-26 took the week off for the holidays. December 28 recelved $3,200 cauh from Gomez Company on its receivable. December 29 Reimbarsed S. Rey tor buoiness automobile mileage (600 miles at $0.30 per mile ). December 31 The conpany paid $1,400 caah in dividends