I U XA-D-A- T Normal 1 No Spac. Heading 1 Heading 2 Tale Painter Font Styles Editing Paragraph 15 ACCOUNTING Assignment W6 - Due Friday, June 2, 2020 Use the Sample Accounting Question in your class material as your guide. You are a commercial loans officer at a major bank. It is October 1. Halloween Costume and Supplies Shop, located in Regina, has approached you with a request for a loan. The company manager brought in a balance sheet and a listing of income statement accounts. The company's year-end is September 30. Prepare a report for your manager with the following: 1) Prepare an income statement in proper format. 2) Is this a high or low risk loan? 3) Provide a financial analysis on the balance sheet (ratios) 4) Discuss any non-financial factors you may think are important 5) Recommend whether to provide the loan and why. Halloween Costume and Supplies Shop Balance Sheet As of September 30, 2019 ASSETS Cash Accounts Receivable Inventory Total Current assets $8,228 $368,280 $142,480 $418,988 LIABILITIES AND EQUITY Accounts Payable Wages Payable Taxes Payable Total Current Liabilities $206,080 $46,480 $84,000 $336,560 Store Furnishings $840,000 Long term debt $184,000 0 5 e here to search e 10 Normal 1 No Spac... Heading Heading 2 Title Font Palagraph Styles ASSETS Cash Accounts Receivable Inventory Total Current assets $8,228 $368,280 $142,480 $418,988 LIABILITIES AND EQUITY Accounts Payable Wages Payable Taxes Payable Total Current Liabilities $206,080 $46,480 $84,000 $336,560 Store Furnishings Accumulated don'n $840,000 ($404,000) Long term debt Shareholders' equity $184,000 $234,428 TOTAL ASSETS $754,988 TOTAL LIABI & EQUITY $754,988 INCOME STATEMENT ACCOUNTS Salaries expense Cost of Goods Sold Depreciation expense Sales revenues Office expenses Selling expense Income tax rate $182,616 $740,740 $69,322 $1,134,567 $63,542 $61,728 20% 0 W O I U XA-D-A- T Normal 1 No Spac. Heading 1 Heading 2 Tale Painter Font Styles Editing Paragraph 15 ACCOUNTING Assignment W6 - Due Friday, June 2, 2020 Use the Sample Accounting Question in your class material as your guide. You are a commercial loans officer at a major bank. It is October 1. Halloween Costume and Supplies Shop, located in Regina, has approached you with a request for a loan. The company manager brought in a balance sheet and a listing of income statement accounts. The company's year-end is September 30. Prepare a report for your manager with the following: 1) Prepare an income statement in proper format. 2) Is this a high or low risk loan? 3) Provide a financial analysis on the balance sheet (ratios) 4) Discuss any non-financial factors you may think are important 5) Recommend whether to provide the loan and why. Halloween Costume and Supplies Shop Balance Sheet As of September 30, 2019 ASSETS Cash Accounts Receivable Inventory Total Current assets $8,228 $368,280 $142,480 $418,988 LIABILITIES AND EQUITY Accounts Payable Wages Payable Taxes Payable Total Current Liabilities $206,080 $46,480 $84,000 $336,560 Store Furnishings $840,000 Long term debt $184,000 0 5 e here to search e 10 Normal 1 No Spac... Heading Heading 2 Title Font Palagraph Styles ASSETS Cash Accounts Receivable Inventory Total Current assets $8,228 $368,280 $142,480 $418,988 LIABILITIES AND EQUITY Accounts Payable Wages Payable Taxes Payable Total Current Liabilities $206,080 $46,480 $84,000 $336,560 Store Furnishings Accumulated don'n $840,000 ($404,000) Long term debt Shareholders' equity $184,000 $234,428 TOTAL ASSETS $754,988 TOTAL LIABI & EQUITY $754,988 INCOME STATEMENT ACCOUNTS Salaries expense Cost of Goods Sold Depreciation expense Sales revenues Office expenses Selling expense Income tax rate $182,616 $740,740 $69,322 $1,134,567 $63,542 $61,728 20% 0 W O
