Question
1.LYRIX Panels Inc. (LPI) is a manufacturer of speciality panels, small tools for the panel industry, as well as sales of solar panel, which they
1.LYRIX Panels Inc. (LPI) is a manufacturer of speciality panels, small tools for the panel industry, as well as sales of solar panel, which they build for other manufacturers.The company has been in business since 2015, results include 2020 and 2021.The company through its Board of Directors is developing a plan to acquire more equipment to expand its current facilities. The Board is recommending purchasing $250,000 of new equipment each year and wants to put away cash reserves to purchase the property next to at which has a value of $3,000,000.
The CFO who sits on the Board is concerned the Board may have unrealistic goals considering LPI's recent financial performance.The CFO is preparing a report to the Board outlining the concerns.
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