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Provide the goals, resources, and timelines for the team project. Explain the communication protocol for team members. Explain how you resolved the problems CC&Rs for
Provide the goals, resources, and timelines for the team project. Explain the communication protocol for team members. Explain how you resolved the problems CC\&Rs for Bob Smith, Inc. During the original loan, the bank included, as part of the loan documentation, a document called Covenants, Conditions \& Restrictions (CC\&Rs), which the company had to comply with to maintain its credit facility with the bank. The major conditions of this included: 1. The company will maintain at least $70,000 in their DDA (noninterest bearing checking) at all times as compensating balances against their loan. 2. The company will maintain a current ratio of at least 2:1. 3. The company will maintain a quick ratio of at least 1.5:1. 4. The company will not increase officer salaries by more than 5% while the loan is outstanding. 5. The company will not pay bonuses to officers without the bank's explicit approval. Teams will corisider compliance with the loan's CC\&Rs as part of their loan approval process. Scenario: You are required to conduct an analysis of specific financial data of Bob Smith. Inc. Bob is an existing bank customer. When the loan lo Exu was: originally made in 2016, the bank required Bob to increase the YE 2016 cash balance to at least $70,000 to qualify for the interest rate that the bank used for the original loan. This cash balance was required for the bank to make its target yield on the loan created. The Cash Flow Statement and Balance Sheet show an actual YE 2017 cash balance of less than $34,000
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