Analyzing Financial Statement Information. The Fayette Corporation has applied to the Irving National Bank for a $100,000 loan to purchase new equipment for its manufacturing operations. As part of the loan application, the chief financial officer of Fayette submitted the following financial statement information: 2018 2019 Balance sheet Current assets. Noncurrent assets. Total assets.. Current liabilities. Noncurrent liabilities Shareholders' equity. Income statement Operating revenues Operating expenses Net income.. Statement of cash flow Cash flow from operating activities Cash flow from investing activities $ 45,000 152,000 $ 50,000 175,000 197,000 225,000 22,000 25,000 75,000 91,000 100,000 109,000 $120,000 $123,500 (88,500) (101,000) $ 19,000 $ 32,000 (40,000) 17,500 $ 35,000 $ 49,500 (48,000) 22,000 Cash flow from financing activities Change in cash... $ 9,500 $ 23,500 Required Analyze the financial statement information of The Fayette Corporation and indicate whether you believe that the firm's loan application should be approved. And, if so, why?