ABC Inc. are good friends with the owner of Hub Inc. a small manufacturer in Wheatley. The company has been in been in business for five years. The owner Mark Van Cheap has decided he wants to expand into a larger facility in Leamington. He knows that will take more money than he has and will have to go to his current bank and request a loan for the new facility. Laura has prepared her statements for the year ended, May 31, 2023. He has had his bookkeeper, Annana Kranky prepare the following statement with cash inflows and outflows: Sources of Cash: Sales of Merchandise $350,000 Shareholder Loans $150,000 Term Deposits Cashed-in $100,000 Vehicle Loan $ 50,000 Interest Income $ 10,000 Total Sources of Cash: $660,000 Uses of Cash: Purchases of Investments $55,000 Purchase of Truck $50,000 Inventory Purchases $250,000 Fixed Asset purchases $100,000 Interest on Debt $30,000 Operating Expenses, including depreciation $70,000 $160,000 Total Uses of Cash $645,000 Mark thought based on this information he should easily be able to obtain a bank loan, considering he has been profitable to date. However, before he would present this to his bank, Mark decided to spend some money and ask his external accountant Angelow Bills of SGI Chartered Accountants. Angelow assigned the work, to his one of his house accountants Linsey Changes to review the information. Angelow said to Linsey, review and make any necessary changes to the information with proper classifications. Once the statements are redone, review the companys position and outline your thoughts on the bank providing a loan. You can assume that the company is using ASPE standards.