Zeta CorporationScenario: Comparative Financial Statement AnalysisData:2023:Revenue: $500,000Expenses:Cost of Goods Sold: $250,000Operating Expenses: $100,000Assets:Cash: $50,000Accounts Receivable: $60,000Equipment:...
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Accounting
Zeta Corporation
Scenario: Comparative Financial Statement Analysis
Data:
- 2023:
- Revenue: $500,000
- Expenses:
- Cost of Goods Sold: $250,000
- Operating Expenses: $100,000
- Assets:
- Cash: $50,000
- Accounts Receivable: $60,000
- Equipment: $150,000
- Liabilities:
- Accounts Payable: $40,000
- Long-term Debt: $100,000
- 2022:
- Revenue: $450,000
- Expenses:
- Cost of Goods Sold: $230,000
- Operating Expenses: $90,000
- Assets:
- Cash: $40,000
- Accounts Receivable: $50,000
- Equipment: $130,000
- Liabilities:
- Accounts Payable: $35,000
- Long-term Debt: $80,000
Requirements:
- Prepare a comparative income statement and balance sheet for 2022 and 2023.
- Analyze the changes in financial performance and position between the two years.
- Discuss the implications of these changes for the company’s strategy.
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