Notes on the financial statements 1. The short-term debt is a line of credit at 10% interest rate 2. The long-term debt is a secured bank loan at 4.6% interest rate 3. In 2022 the company engaged in an aggressive growth strategy investing in new equipment that would help them set up the campaign design division. This accounts for the increase in Non-Current Assets and Long-term debts 4. The short-term debts were increased to cover additional wage costs to cover the expected increase in production