PLEASE ANSWER QUESTIONS 6,7 AND 8 FOR STUDY PURPOSES. ***

The following is a balance sheet for AGE IN PLACE, a private consulting business specializing in older adult independent living, health, and lifestyle (anyone really want to start a business? get in touch with me Im interested in developing a consulting business related to one or more of the following: health, recreation/leisure, aging, community, physical activity or disability, org/admin). Some of the information on the balance sheet is missing. Using the information provided in the Balance Sheet, answer the corresponding questions. FOR FULL MARKS MAKE SURE YOU EXPALIN HOW YOU DETERMINED THE ANSWER. ASSETS Current assets Cash and cash equivalents 426 Short-term investments - Accounts receivable 98,406 Bad Debt - Inventories 62,800 Total current assets $ ??? Fixed assets Property, buildings and equipment 430,000 Accumulated depreciation (19000) Total fixed assets $ ??? Other assets Long-term cash investments - Equity investments - Other assets - Total other assets $ - Total assets $ ??? LIABILITIES & OWNERS' EQUITY Current liabilities Accounts payable (26,440) Short-term bank loan (6,650) Total current liabilities $ ??? Noncurrent/Fixed Liabilities Long-term debt (380,000) Total other liabilities $ (380,000) Total liabilities ???

Total owners' equity ??? Total liabilities + owners' equity ??? Note: dashes (-) = 0; brackets = negative numbers 1) Does the company have money owed that it doesnt expect to get paid back? (2 points) 2) How much money does Age in Place owe to other companies for products or services purchased (1 point)? What line item/category did you look at to answer this question (1 point)? (2 points) 3) In terms of inventories, do you think the inventories are high or low, why? (2 points) 4) Does the companys fixed assets include land? (2 points) 5) Are Age in Places books balanced? Answer the following guided questions to determine the response. a) What are the Total Assets? (Show your work; 0.5 point for showing/explaining how you came up with answer and 0.5 point for correct answer = 1 points) b) What are Total Liabilities? (Show your work; 0.5 point for showing/explaining how you came up with answer and 0.5 point for correct answer = 1 points) c) What is Equity? (Show your work; 0.5 point for showing/explaining how you came up with answer and 0.5 point for correct answer = 1 points) d) What are Total Liabilities + Equity? (Show your work; 0.5 point for showing/explaining how you came up with answer and 0.5 point for correct answer = 1 points) e) Are the books balanced (i.e., does Total Liabilities + Equity = Total Assets)? (1 point)

6) Looking at the balance sheet, what are the strengths of the company? (3 points) 7) Looking at the balance sheet, what are the weaknesses of the company? (3 points) 8) Would you invest in this company? Why or why not? (2 points)