Part 2 Module 6 Loan Analysis Loan Request The Eco Foods is a Natural Foods Company, headquartered in Boulder, Colorado that specializes in natural organic foods, and is requesting a loan from Boulder Bancorp in December 2020 The purpose of Eco Foods loan request for $40 thousand is to finance the purchase of new, more energy efficient freezers for its stores, that it expects to reduce its fixed operating expenses each year starting in 2021 by $10 thousand a year The new freezers will have a depreciation expense for each year of $4 thousand Eco Foods has supplied copies of its financial statements on an excel spreadsheet for the bank, including historical statements for 2019 and 2020, and Eco Foods forecast statements for 2021 The assumptions Eco Foods used to do its forecast financial statements for 2021 are based on the following assumptions for your information Assumptions Used for the Forecast 2021 Income Statement Shown on the Spreadsheet Financial Statements posted in Module 5 (FNCE 3600Ex2Part1Spreadsheet2020) (1) Forecast sales will grow 9 in 2021, similar to the growth rate in sales of 9 from 2019 to 2020 (i e (769,030 705,499) 1 09 or 9 (2) The Cost of revenue will growth at the same 9 rate (3) Previous Operating expenses of $83,164 that are variable will grow by 9 , and $83,164 that are fixed will be lower by $10 thousand with the new more energy efficient freezers Other expenses will stay the same, and depreciation expense will rise by $4 thousand in 2021 (4) Interest expenses are expected to rise by $4 thousand in 2021 (based on a 10 interest rate on the $40 thousand loan balance for the new freezers) The firms average tax rate is assumed to be the same as in 2020, as 33 A dividend will be paid to shareholders equal to $5,000 thousand in 2021 (5) For the $40 thousand loan, the terms will be a 10 year amortized loan, with a 10 annual interest rate and annual payments, so the annual loan payment will be $40,000 (PVIFA 10 , 10) $40 thou 6 1446 $6 51 thousand, and the amortization payment for year 1 will be interest portion $4 thousand principal portion $2 51 thousand, which reduces the loan balance at the end of 2021 by the principal amount paid of $2 51 thousand Asset Forecast Assumptions Used for Forecast Accounts receivables, and inventory will grow the same rate as sales at 9 , and Cash Balancing item Total Forecast Liabs Equity Total Forecast Assets excluding Cash NPP E in 2021 will be equal to Previous NPP E $40 thousand $4 thousand depreciation expense for 2021 Liab Equity Forecast Assumptions Used for Forecast Accounts Payable Accrued Liabilities will grow at same 9 as sales Long term Debt (Previous Years LT Debt) ($40 thousand new LTD) Principal Loan Payment for 2021 of $2 51 thousand Loan Analysis Questions to Answer for a Financial Credit Analysis for Eco Foods Use the information on the excel spreadsheet for your analysis FNCE3600Ex2Part1Spreadshpr2020 xlsx posted in Module 6, Do a Financial Credit Analysis for Eco Foods QUESTION Do a trend and industry comparison analysis for Eco Foods cash flow liquidity ratios including its Cash Flow from Operations to Sales ratio, days inventory, days accounts receivable, and days accounts payable and accrued liabilities, and cash to cash conversion days (AR days inventory days AP Accrued Liabilities Days) Eco Foods All statement in thousands Assumptions 2020 (in thousands) 2019 2021 Forecast 5838,242 70 $606,796 46 $231,446 24 9 growth 9 growth 769,030 556,694 212,336 166,328 705,499 503,727 201 772 151,267 Income Statement Total Revenue Cost of Revenue Gross Profit Operating Expenses Fixed Operating Expenses Variable Operations Exp Depreciation Expense Total Operating Expenses Operating Profit Other Expenses Earnings Before Int Taxes Interest Expense Earnings Before Taxes Taxes Net Income Dividends Addition to Ret Earnings Lowerby510 Grow by 9 Rise of $4th 9 grless 10 $83,154 00 590,648 76 $29,515 00 $203,317 76 $28,128 48 $2,399 00 $25,729 48 $3,797 00 $21,932 48 $7,237 72 $14,694 76 $5,000 00 $9,694 76 Add 54 thou 29,511 195,839 16,497 2,399 14,098 3,793 10,305 3,414 $6,891 00 $0 00 $6,891 00 25,533 176,800 24,972 4593 20,379 3,044 17,335 5,864 $11,471 00 Not Given Not Given 2020 2019 Forecast Financial Ratios 2021 Stored Liquidity 1 55 Current Ratio 0 24 Quick Ratio Industry Ave 1 4 0 18 Assumptions Current Ratio Quick Ratio 1 47 0 16 1 41 0 12 2021 Forecast $13,795 26 $5,297 40 $102,037 08 $121,129 74 $195,034 00 $316,163 74 Balanceltem Grows 9 Grows 9 2020 6,521 4,860 93,612 104 993 194998 299,991 2019 4,017 3,747 86,330 94,094 188,152 282 246 Given Balance Sheets Assets Cash Accounts Receivables Inventory Total Current Assets Net PP E Total Assets Liabilities Equity Accounts Payable Accrued Liabilities Total Current Liabilities Long term Debt Total Debt Common Stock Retained Earnings Total Equity Total Liabs Equity Debt Assets Debt Equity LTD Assets Times Int Emed 2021 Solvency 54 59 Debt to TA 1 20 Debt to Equity 29 92 LTD to TA 6 78 TIE 2020 55 37 1 24 31 52 3 72 2019 55 10 1 23 31 53 6 69 Industry 60 00 1 5 40 00 8 31 Grows 996 Grows 9 $61,965 41 $16,036 08 $78,001 49 $94,584 49 $172,585 98 $55,037 00 $88,540 76 $143,577 76 $316,163 74 Plus 37 49 Given stays same PreRE AddRE 56,849 14,712 71,561 94,547 166,108 55,037 78,846 133,883 299,991 53,615 12 926 66,541 88,980 155,521 54,770 71,955 126,725 282 246 Total S U Average Industry 4 00 3 54 CFO Sales GrowthSales Days Inv 2021 4 99 9 61 38 2 31 63 68 46 92 16 76 Cash Flow Liquidity CFO Sales Growth Rate Sales Days Inventory Days Accts Receivable Operating Cycle Days Days AP Accruals Cash to Cash Days 60 00 2020 4 29 9 01 61 38 2 31 63 68 46 92 16 76 2019 4 10 4 00 62 55 1 94 64 49 48 22 16 28 Days AR OperCycleDays Days AP Accr CashtoCashDays 5 93 65 93 45 00 20 93 Forecast 2021 $14,694 76 $29,515 00 5437 40 $8,425 08 $5,116 41 $1,324 08 $41,787 77 2020 $6,891 00 $29,511 00 1 113 00 7 282 00 3,234 00 1,786 00 33,027 00 Profitability Ratios for the Dupont Analysis Below Indirect Cash Flow Statement Net Income Depreciation Expense Less Rise in AR Less Rise in Inventory Plus Rise in AP Plus Rise in AL Net Cash Flow Operations Cash Used in Investing Change in NPPE Plus Depreciation Expense Net Cash Used in Investing Cash from Financing Dividends Paid Rise in LT Debt Rise in Common Stock Cash from Financing Change in Cash CFO less CFI plus CFF Check Change Cash $36 00 $29,515 00 $29,551 00 6,846 $29,511 00 $36,357 00 ROE ROA NPM GPM OPM AU FAT EM 2021 Profitability 2020 10 23 Return on Equity 5 15 4 65 Return on Assets 2 30 1 75 Net Profit Margin 0 90 27 61 Gross Profit Margin 27 61 3 36 Operating Profit Margin 2 15 2 65 Asset Utilization 2 56 3 11 Fixed Asset Turnover 2 85 2 20 Equity Multiplier 2 24 2019 9 05 4 06 1 63 28 60 3 54 2 50 2 68 2 23 Average Industry 16 36 5 47 1 78 22 52 2 78 3 07 4 00 2 99 $5,000 00 $37 49 0 $4,962 51 0 5,567 267 $5,834 00 $7,274 26 $7,274 26 $2,504 00 2504 Eco Foods All statement in thousands Assumptions 2020 (in thousands) 2019 2021 Forecast 5838,242 70 $606,796 46 $231,446 24 9 growth 9 growth 769,030 556,694 212,336 166,328 705,499 503,727 201 772 151,267 Income Statement Total Revenue Cost of Revenue Gross Profit Operating Expenses Fixed Operating Expenses Variable Operations Exp Depreciation Expense Total Operating Expenses Operating Profit Other Expenses Earnings Before Int Taxes Interest Expense Earnings Before Taxes Taxes Net Income Dividends Addition to Ret Earnings Lowerby510 Grow by 9 Rise of $4th 9 grless 10 $83,154 00 590,648 76 $29,515 00 $203,317 76 $28,128 48 $2,399 00 $25,729 48 $3,797 00 $21,932 48 $7,237 72 $14,694 76 $5,000 00 $9,694 76 Add 54 thou 29,511 195,839 16,497 2,399 14,098 3,793 10,305 3,414 $6,891 00 $0 00 $6,891 00 25,533 176,800 24,972 4593 20,379 3,044 17,335 5,864 $11,471 00 Not Given Not Given 2020 2019 Forecast Financial Ratios 2021 Stored Liquidity 1 55 Current Ratio 0 24 Quick Ratio Industry Ave 1 4 0 18 Assumptions Current Ratio Quick Ratio 1 47 0 16 1 41 0 12 2021 Forecast $13,795 26 $5,297 40 $102,037 08 $121,129 74 $195,034 00 $316,163 74 Balanceltem Grows 9 Grows 9 2020 6,521 4,860 93,612 104 993 194998 299,991 2019 4,017 3,747 86,330 94,094 188,152 282 246 Given Balance Sheets Assets Cash Accounts Receivables Inventory Total Current Assets Net PP E Total Assets Liabilities Equity Accounts Payable Accrued Liabilities Total Current Liabilities Long term Debt Total Debt Common Stock Retained Earnings Total Equity Total Liabs Equity Debt Assets Debt Equity LTD Assets Times Int Emed 2021 Solvency 54 59 Debt to TA 1 20 Debt to Equity 29 92 LTD to TA 6 78 TIE 2020 55 37 1 24 31 52 3 72 2019 55 10 1 23 31 53 6 69 Industry 60 00 1 5 40 00 8 31 Grows 996 Grows 9 $61,965 41 $16,036 08 $78,001 49 $94,584 49 $172,585 98 $55,037 00 $88,540 76 $143,577 76 $316,163 74 Plus 37 49 Given stays same PreRE AddRE 56,849 14,712 71,561 94,547 166,108 55,037 78,846 133,883 299,991 53,615 12 926 66,541 88,980 155,521 54,770 71,955 126,725 282 246 Total S U Average Industry 4 00 3 54 CFO Sales GrowthSales Days Inv 2021 4 99 9 61 38 2 31 63 68 46 92 16 76 Cash Flow Liquidity CFO Sales Growth Rate Sales Days Inventory Days Accts Receivable Operating Cycle Days Days AP Accruals Cash to Cash Days 60 00 2020 4 29 9 01 61 38 2 31 63 68 46 92 16 76 2019 4 10 4 00 62 55 1 94 64 49 48 22 16 28 Days AR OperCycleDays Days AP Accr CashtoCashDays 5 93 65 93 45 00 20 93 Forecast 2021 $14,694 76 $29,515 00 5437 40 $8,425 08 $5,116 41 $1,324 08 $41,787 77 2020 $6,891 00 $29,511 00 1 113 00 7 282 00 3,234 00 1,786 00 33,027 00 Profitability Ratios for the Dupont Analysis Below Indirect Cash Flow Statement Net Income Depreciation Expense Less Rise in AR Less Rise in Inventory Plus Rise in AP Plus Rise in AL Net Cash Flow Operations Cash Used in Investing Change in NPPE Plus Depreciation Expense Net Cash Used in Investing Cash from Financing Dividends Paid Rise in LT Debt Rise in Common Stock Cash from Financing Change in Cash CFO less CFI plus CFF Check Change Cash $36 00 $29,515 00 $29,551 00 6,846 $29,511 00 $36,357 00 ROE ROA NPM GPM OPM AU FAT EM 2021 Profitability 2020 10 23 Return on Equity 5 15 4 65 Return on Assets 2 30 1 75 Net Profit Margin 0 90 27 61 Gross Profit Margin 27 61 3 36 Operating Profit Margin 2 15 2 65 Asset Utilization 2 56 3 11 Fixed Asset Turnover 2 85 2 20 Equity Multiplier 2 24 2019 9 05 4 06 1 63 28 60 3 54 2 50 2 68 2 23 Average Industry 16 36 5 47 1 78 22 52 2 78 3 07 4 00 2 99 $5,000 00 $37 49 0 $4,962 51 0 5,567 267 $5,834 00 $7,274 26 $7,274 26 $2,504 00 2504

Question

Part 2  Module 6  Loan Analysis Loan Request  The Eco Foods is a Natural Foods Company, headquartered in Boulder, Colorado that specializes in natural   organic foods, and is requesting a loan from Boulder Bancorp in December 2020  The purpose of Eco Foods loan request for $40 thousand is to finance the purchase of new, more energy efficient freezers for its stores, that it expects to reduce its fixed operating expenses each year starting in 2021 by $10 thousand a year  The new freezers will have a depreciation expense for each year of $4 thousand  Eco Foods has supplied copies of its financial statements on an excel spreadsheet for the bank, including historical statements for 2019 and 2020, and Eco Foods forecast statements for 2021  The assumptions Eco Foods used to do its forecast financial statements for 2021 are based on the following assumptions for your information  Assumptions Used for the Forecast 2021 Income Statement Shown on the Spreadsheet Financial Statements posted in Module 5   (FNCE 3600Ex2Part1Spreadsheet2020) (1) Forecast sales will grow 9  in 2021, similar to the growth rate in sales of 9  from 2019 to 2020 (i e   (769,030 705,499)  1    09 or 9   (2) The Cost of revenue will growth at the same 9  rate  (3) Previous Operating expenses of $83,164 that are variable will grow by 9 , and $83,164 that are fixed will be lower by $10 thousand with the new more energy efficient freezers  Other expenses will stay the same, and depreciation expense will rise by $4 thousand in 2021  (4) Interest expenses are expected to rise by $4 thousand in 2021 (based on a 10  interest rate on the $40 thousand loan balance for the new freezers)  The firms average tax rate is assumed to be the same as in 2020, as 33   A dividend will be paid to shareholders equal to $5,000 thousand in 2021  (5) For the $40 thousand loan, the terms will be a 10 year amortized loan, with a 10  annual interest rate and annual payments, so the annual loan payment will be  $40,000   (PVIFA 10 , 10)     $40 thou    6 1446    $6 51 thousand, and the amortization payment for year 1 will be   interest portion $4 thousand principal portion $2 51 thousand, which reduces the loan balance at the end of 2021 by the principal amount paid of $2 51 thousand   Asset Forecast  Assumptions Used for Forecast Accounts receivables, and inventory will grow the same rate as sales at 9 , and Cash   Balancing item    Total Forecast Liabs   Equity    Total Forecast Assets excluding Cash   NPP E in 2021 will be equal to Previous NPP E    $40 thousand   $4 thousand depreciation expense for 2021   Liab    Equity Forecast  Assumptions Used for Forecast Accounts Payable   Accrued Liabilities will grow at same 9  as sales  Long term Debt   (Previous Years LT Debt)   ($40 thousand new LTD)    Principal Loan Payment for 2021 of $2 51 thousand                                                                                          Loan Analysis  Questions to Answer for a Financial   Credit Analysis for Eco Foods Use the information on the excel spreadsheet for your analysis  FNCE3600Ex2Part1Spreadshpr2020 xlsx posted in Module 6, Do a Financial Credit Analysis for Eco Foods QUESTION  Do a trend and industry comparison analysis for Eco Foods cash flow liquidity ratios including its Cash Flow from Operations to Sales ratio, days inventory, days accounts receivable, and days accounts payable and accrued liabilities, and cash to cash conversion days (AR days   inventory days AP  Accrued Liabilities Days)  Eco Foods All statement in thousands Assumptions 2020 (in thousands) 2019 2021 Forecast 5838,242 70 $606,796 46 $231,446 24 9  growth 9  growth 769,030 556,694 212,336 166,328 705,499 503,727 201 772 151,267 Income Statement Total Revenue Cost of Revenue Gross Profit Operating Expenses Fixed Operating Expenses Variable Operations Exp  Depreciation Expense Total Operating Expenses Operating Profit Other Expenses Earnings Before Int    Taxes Interest Expense Earnings Before Taxes Taxes Net Income Dividends Addition to Ret  Earnings Lowerby510 Grow by 9  Rise of $4th 9  grless 10 $83,154 00 590,648 76 $29,515 00 $203,317 76 $28,128 48 $2,399 00 $25,729 48 $3,797 00 $21,932 48 $7,237 72 $14,694 76 $5,000 00 $9,694 76 Add 54 thou  29,511 195,839 16,497 2,399 14,098 3,793 10,305 3,414 $6,891 00 $0 00 $6,891 00 25,533 176,800 24,972 4593 20,379 3,044 17,335 5,864 $11,471 00 Not Given Not Given 2020 2019 Forecast Financial Ratios  2021 Stored Liquidity 1 55 Current Ratio 0 24 Quick Ratio Industry Ave  1 4 0 18 Assumptions Current Ratio Quick Ratio 1 47 0 16 1 41 0 12 2021 Forecast $13,795 26 $5,297 40 $102,037 08 $121,129 74 $195,034 00 $316,163 74 Balanceltem Grows 9  Grows 9  2020 6,521 4,860 93,612 104 993 194998 299,991 2019 4,017 3,747 86,330 94,094 188,152 282 246 Given Balance Sheets Assets  Cash Accounts Receivables Inventory Total Current Assets Net PP E Total Assets Liabilities   Equity  Accounts Payable Accrued Liabilities Total Current Liabilities Long term Debt Total Debt Common Stock Retained Earnings Total Equity Total Liabs    Equity Debt  Assets Debt Equity LTD Assets Times Int  Emed 2021 Solvency 54 59  Debt to TA 1 20 Debt to Equity 29 92  LTD to TA 6 78 TIE 2020 55 37  1 24 31 52  3 72 2019 55 10  1 23 31 53  6 69 Industry 60 00  1 5 40 00  8 31 Grows 996 Grows 9  $61,965 41 $16,036 08 $78,001 49 $94,584 49 $172,585 98 $55,037 00 $88,540 76 $143,577 76 $316,163 74 Plus 37 49 Given stays same PreRE AddRE 56,849 14,712 71,561 94,547 166,108 55,037 78,846 133,883 299,991 53,615 12 926 66,541 88,980 155,521 54,770 71,955 126,725 282 246 Total S U Average Industry 4 00  3 54  CFO Sales GrowthSales Days Inv  2021 4 99  9  61 38 2 31 63 68 46 92 16 76 Cash Flow Liquidity CFO Sales Growth Rate Sales Days Inventory Days Accts  Receivable Operating Cycle Days Days AP   Accruals Cash to Cash Days 60 00 2020 4 29  9 01  61 38 2 31 63 68 46 92 16 76 2019 4 10  4 00  62 55 1 94 64 49 48 22 16 28 Days AR OperCycleDays Days AP  Accr  CashtoCashDays 5 93 65 93 45 00 20 93 Forecast 2021 $14,694 76 $29,515 00  5437 40  $8,425 08 $5,116 41 $1,324 08 $41,787 77 2020 $6,891 00 $29,511 00  1 113 00  7 282 00 3,234 00 1,786 00 33,027 00 Profitability Ratios for the Dupont Analysis Below  Indirect Cash Flow Statement Net Income Depreciation Expense Less Rise in AR Less Rise in Inventory Plus Rise in AP Plus Rise in AL Net Cash Flow Operations Cash Used in Investing  Change in NPPE Plus Depreciation Expense Net Cash Used in Investing Cash from Financing Dividends Paid Rise in LT Debt Rise in Common Stock Cash from Financing  Change in Cash CFO less CFI plus CFF Check Change Cash $36 00 $29,515 00 $29,551 00 6,846 $29,511 00 $36,357 00 ROE ROA NPM GPM OPM AU FAT EM 2021 Profitability 2020 10 23  Return on Equity 5 15  4 65  Return on Assets 2 30  1 75  Net Profit Margin 0 90  27 61  Gross Profit Margin 27 61  3 36  Operating Profit Margin 2 15  2 65 Asset Utilization 2 56 3 11 Fixed Asset Turnover 2 85 2 20 Equity Multiplier 2 24 2019 9 05  4 06  1 63  28 60  3 54  2 50 2 68 2 23 Average Industry 16 36  5 47  1 78  22 52  2 78  3 07 4 00 2 99 $5,000 00 $37 49 0 $4,962 51 0 5,567 267 $5,834 00 $7,274 26 $7,274 26 $2,504 00 2504 Eco Foods All statement in thousands Assumptions 2020 (in thousands) 2019 2021 Forecast 5838,242 70 $606,796 46 $231,446 24 9  growth 9  growth 769,030 556,694 212,336 166,328 705,499 503,727 201 772 151,267 Income Statement Total Revenue Cost of Revenue Gross Profit Operating Expenses Fixed Operating Expenses Variable Operations Exp  Depreciation Expense Total Operating Expenses Operating Profit Other Expenses Earnings Before Int    Taxes Interest Expense Earnings Before Taxes Taxes Net Income Dividends Addition to Ret  Earnings Lowerby510 Grow by 9  Rise of $4th 9  grless 10 $83,154 00 590,648 76 $29,515 00 $203,317 76 $28,128 48 $2,399 00 $25,729 48 $3,797 00 $21,932 48 $7,237 72 $14,694 76 $5,000 00 $9,694 76 Add 54 thou  29,511 195,839 16,497 2,399 14,098 3,793 10,305 3,414 $6,891 00 $0 00 $6,891 00 25,533 176,800 24,972 4593 20,379 3,044 17,335 5,864 $11,471 00 Not Given Not Given 2020 2019 Forecast Financial Ratios  2021 Stored Liquidity 1 55 Current Ratio 0 24 Quick Ratio Industry Ave  1 4 0 18 Assumptions Current Ratio Quick Ratio 1 47 0 16 1 41 0 12 2021 Forecast $13,795 26 $5,297 40 $102,037 08 $121,129 74 $195,034 00 $316,163 74 Balanceltem Grows 9  Grows 9  2020 6,521 4,860 93,612 104 993 194998 299,991 2019 4,017 3,747 86,330 94,094 188,152 282 246 Given Balance Sheets Assets  Cash Accounts Receivables Inventory Total Current Assets Net PP E Total Assets Liabilities   Equity  Accounts Payable Accrued Liabilities Total Current Liabilities Long term Debt Total Debt Common Stock Retained Earnings Total Equity Total Liabs    Equity Debt  Assets Debt Equity LTD Assets Times Int  Emed 2021 Solvency 54 59  Debt to TA 1 20 Debt to Equity 29 92  LTD to TA 6 78 TIE 2020 55 37  1 24 31 52  3 72 2019 55 10  1 23 31 53  6 69 Industry 60 00  1 5 40 00  8 31 Grows 996 Grows 9  $61,965 41 $16,036 08 $78,001 49 $94,584 49 $172,585 98 $55,037 00 $88,540 76 $143,577 76 $316,163 74 Plus 37 49 Given stays same PreRE AddRE 56,849 14,712 71,561 94,547 166,108 55,037 78,846 133,883 299,991 53,615 12 926 66,541 88,980 155,521 54,770 71,955 126,725 282 246 Total S U Average Industry 4 00  3 54  CFO Sales GrowthSales Days Inv  2021 4 99  9  61 38 2 31 63 68 46 92 16 76 Cash Flow Liquidity CFO Sales Growth Rate Sales Days Inventory Days Accts  Receivable Operating Cycle Days Days AP   Accruals Cash to Cash Days 60 00 2020 4 29  9 01  61 38 2 31 63 68 46 92 16 76 2019 4 10  4 00  62 55 1 94 64 49 48 22 16 28 Days AR OperCycleDays Days AP  Accr  CashtoCashDays 5 93 65 93 45 00 20 93 Forecast 2021 $14,694 76 $29,515 00  5437 40  $8,425 08 $5,116 41 $1,324 08 $41,787 77 2020 $6,891 00 $29,511 00  1 113 00  7 282 00 3,234 00 1,786 00 33,027 00 Profitability Ratios for the Dupont Analysis Below  Indirect Cash Flow Statement Net Income Depreciation Expense Less Rise in AR Less Rise in Inventory Plus Rise in AP Plus Rise in AL Net Cash Flow Operations Cash Used in Investing  Change in NPPE Plus Depreciation Expense Net Cash Used in Investing Cash from Financing Dividends Paid Rise in LT Debt Rise in Common Stock Cash from Financing  Change in Cash CFO less CFI plus CFF Check Change Cash $36 00 $29,515 00 $29,551 00 6,846 $29,511 00 $36,357 00 ROE ROA NPM GPM OPM AU FAT EM 2021 Profitability 2020 10 23  Return on Equity 5 15  4 65  Return on Assets 2 30  1 75  Net Profit Margin 0 90  27 61  Gross Profit Margin 27 61  3 36  Operating Profit Margin 2 15  2 65 Asset Utilization 2 56 3 11 Fixed Asset Turnover 2 85 2 20 Equity Multiplier 2 24 2019 9 05  4 06  1 63  28 60  3 54  2 50 2 68 2 23 Average Industry 16 36  5 47  1 78  22 52  2 78  3 07 4 00 2 99 $5,000 00 $37 49 0 $4,962 51 0 5,567 267 $5,834 00 $7,274 26 $7,274 26 $2,504 00 2504

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Part 2: Module 6: Loan Analysis Loan Request: The Eco Foods is a Natural Foods Company, headquartered in Boulder, Colorado that specializes in natural &

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