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Joseph Berio is a loan officer with the First Bank of Tennessee. Red Brick, Incy, a major producet of miasonfy producte, has apollind for a
Joseph Berio is a loan officer with the First Bank of Tennessee. Red Brick, Incy, a major producet of miasonfy producte, has apollind for a short-term loan. Ped firick sueples building material throughout the southem states, with brick plants located in Tennensee, Alabarma, Georgia, and Iridiana. The firm's income statement and balance sheet are given below. The third table presents both a ratio analysis of lied Brick's previous year's financial statements and the industry averages af the ratios, Red Brick Balance sheet as of 12/31/202 Sow of sales are on rededr; + Previous yearit itveneery was sse.900.900. t himidus yeor t investery wat 356,90d.00d. To heip decide whether to grant the loan, compute the following ratios and compare the results with the company's previous year ratios and industry ayerad Assume there are 365 days in a year. Do not round intermediate calculations. Round your answers to two decimal glaces
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