2006 Balance sheet Current assets $49,000 Noncurrent assets 175,000 Total assets $224,000 Current liabilities $24,500 Noncurrent liabilities 91,000 Shareholders' equity 108,500 Income statement Operating revenues $122,500 Operating expenses (80,500} Net income $42,000 Statement of cash flows Cash flow from operating activities $52,500 Cash flow from investing activities (49,000) Cash flow from financing activities 24,500 Change in cash $28,000 Required: Ferris-Wallace E00 2005 $42,000 150,500 $192,500 $21,000 73 .500 98,000 $112.000 91,000! $21,000 $31,500 (42,000) 17,500 $7,000 Analyze the financial statement information of The Thunderbird Corporation and indicate whether you believe that the firm's loan application should be approved. And. if so. whv