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How would you explain the difference between tax and GAAP financial statements to investors? Which financial statements better reflect financial performance? As the bank or

  1. How would you explain the difference between tax and GAAP financial statements to investors? Which financial statements better reflect financial performance?
  2. As the bank or potential equity investor, which financial statements would you place greater reliance on? Would you be willing to finance the planting on the final 25 acres?
  3. What is an NOL? Do these have any future value, why or why not?

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