consider that you are loan manager at the local credit union and the company has submitted a loan application to borrow $400,000 to purchase new equipment. Based upon the ratio results given below, respond in writing whether you approve the loan or will deny the loan and explain your reasoning. The member client always wants to know the 'why.'

write regarding the ratio results this Company has and the rationale for approving or denying the loan.

Explain in detail show work!

The comparative statements of Wahlberg Company are presented here: Netsales 31.390540 $150500 Cost of goods sold 1.053.540 1.006.000 Gross prot 332.000 1'44. 500 Sell in; and administrative expenses 500.000 429.000 Income from operations 332.000 265. 500 Other expenses a rid losses Interest expense 22.000 20.000 Income before income taxes 310.000 245.500 Income tax expense 92.000 23000 N et income 52 13.000 5122. 500 Moots 2022 2021 C urrerlt assets Cash 560.100 364.200 Debt investments (short'terrnl 24.000 50.000 Accounts receivable lnetl 112.300 102.300 Inventory 126.000 115.500 Total current assets 322.900 332.500 Plant assets (net) 649.000 520,300 Total assets 51.026300 3352.300 \"abilities l'ld Stoeltholdu-I' Equity Current liabilities Accounts payable 5160.000 5145.400 Income taxes payable 43.500 42,030 Total current liabilities 203.500 13 2.400 Bonds payable 220.000 200.000 Total liabilities 423.500 382.400 Stodholders' equity Common stock [$5 par) 290.000 300.000 Retained earnings 313.400 165.400 Total stockholders' equit'lf 603.400 465.400 Total liabilities and stockholders' equity 31.026900 $352,800 All sales were on credit. Net cash provided by operating activities for 2022 was $220000. Capital expenditures were $136,000. and cash dividends paid were $70,000. Earnings per share Return on common stockholders' equity Return on assets Current ratio Accounts receivable turnover times Average collection period Inventory turnover 8.77 days times Days in inventory days Times interest earned Debt to assets ratio times times Free cash flow