Analyze the financial position of GHI Hospitality, a hotel chain, based on the provided financial...
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Accounting
Analyze the financial position of GHI Hospitality, a hotel chain, based on the provided financial data for the fiscal year ending December 31, 2023, to determine whether the company is likely to continue as a going concern.
Financial Data:
- Total assets: $90,000,000
- Total liabilities: $65,000,000
- Total equity: $25,000,000
- Net income for the year: $4,200,000
- Cash and cash equivalents: $10,000,000
- Accounts receivable: $20,000,000
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