Property Value: A Matter of Opinion? You are a loans officer with the Reliable Trust Company in Red Deer, Alberta. On March 30, 20, a young businessman, Gary Marsden, comes to you in the hope of borrowing $75 000 for a business venture. When you inquire about his personal financial status, he presents you with the balance sheet shown below GARY MARSDEN BALANCE SHEET MARCH 20,20 Liabilities Accounts Payable Mortgage Payable Total Liabilities $ 5300 80 000 $ 85300 Assets Bank Accounts Receivable Furniture Supplies Truck Building Lot Total Assets $ 2 000 1 500 9 000 1 300 17 000 175 000 $205 800 Owner's Equity Gary Marsden, Capital Total Liabilities and Equity 120 500 $205 800 When examining this statement, you become concerned about the item Building Lot for $175 000. You have lived in Red Deer for several years and you know that there are not many properties in town that are worth that much money. go for pe Career Gary inform you that he bought the property one month a that he borrowed the entire sum from his father. This is shown will increase in value in the near future and that he has listed to the Your nation with Gary indicates that he truly believes that expect to sell it for. When you find out the location of the property.yo statement as Mortgage Payable ir is a piece of land that took over two years to sell Questions Melanie A Co-operat Melanie App at Georgetos Betty Theme school, Mela cation prop day every de led dependi at the busi from 1:00- work then ter she med tw affected(Hint: Refer to Chapter 2) 2. Write out what you would say to Gary on this subject. 3. Would you lend Gary the money on the basis of only the financial al your Compose a letter, using the letter format in the Skills Appendio answer and your reasons property Gary informs you that he bought the property one month ago for that he borrowed the entire sum from his father. This is shown will increase in value in the near future and that he has listed it at the Your conversation with Gary indicates that he truly believes that they expects to sell it for. When you find out the location of the property, you to statement as Mortgage Payable. it is a piece of land that took over two years to sell. 1. What is your opinion about listing the property at $175 000? What affected? (Hint: Refer to Chapter 2.) 2. Write out what you would say to Gary on this subject. 3. Would you lend Gary the money on the basis of only the financial data you? Compose a letter, using the letter format in the Skills Appendix, answer and your reasons. Property Value: A Matter of You are a loans officer with the Reliable Trust Company in Red Deer, Alberta. On March 30, 20, a young businessman, Gary Marsden, comes to you in the hope of borrowing $75 000 for a business venture. When you inquire about his personal financial status, he presents you with the balance sheet shown below. GARY MARSDEN BALANCE SHEET MARCH 20, 20 Assets Bank Accounts Receivable Furniture Supplies Truck Building Lot Total Assets $ 2 000 1 500 9 000 1 300 17 000 175 000 Liabilities Accounts Payable $ 5300 Mortgage Payable 80 000 Total Liabilities $ 85 300 Owner's Equity Gary Marsden, Capital 120 500 Total Liabilities and Equity $205 800 $205 800 When examining this statement, you become concerned about the item Building Lot for $175 000. You have lived in Red Deer for several years and you know that there are not many properties in town that are worth that much money