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Lisa Mitchell, president of Signal Enterprises, applied for a $150,000 loan from First Federal Bank. The bank requested.financial statements from Signal Enterprises as a basis

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Lisa Mitchell, president of Signal Enterprises, applied for a $150,000 loan from First Federal Bank. The bank requested.financial statements from Signal Enterprises as a basis for granting the loan. Lisa has told her accountant to provide the bank with a balance sheet. Lisa has decided to omit the other financial statements because there was a net loss the previous year. 1. What types of information about a business would bankers want before extending credit? 2. What types of information would business owners be willing to provide bankers? What types of information would business owners NOT be willing to provide? 3. Is Lisa behaving in a professional manner by omitting some of the financial statements

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