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Paul Sabin organized Sabin Electronics 1 0 years ago to produce and sell several electronic devices on which he had secured patents. Although the company
Paul Sabin organized Sabin Electronics years ago to produce and sell several electronic devices on which he had secured patents. Although the company has been fairly profitable, it is now experiencing a severe cash shortage. For this reason, it is requesting a $ longterm loan from Gulfport State Bank, $ of which will be used to bolster the Cash account and $ of which will be used to modernize equipment. The companys financial statements for the two most recent years follow:
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