SS Ir.. Topic: BAD... Course Hero G translate to... Angel Martin operates Martin Music Services. Martin wishes to expand but needs a $30,000 loan to do so. The bank request that Martin provide a balance sheet and key financial ratios. Martin has not kept formal records, but does have the following information as of Dec 31: Information - December 31 Account Amount Cash $3,600 Prepaid rent 9,400 Accounts payable 2,200 Annual net income 40,000 Accounts receivable 9,600 Prepaid insurance 1,500 Store supplies 6,600 Unearned lesson fees 15,600 Equipment 50,000 Total equity 62,900 Required: 1. Prepare a balance sheet as of December 31 for Martin Music Services. 2. Compute Martin's debt ratio and its return on assets. (Assume average assets equal its ending balance. 3. If you were a banker, would you issue the $30,000 loan? Why or why not? Cite concepts discussed in the course to support your position. Once you have posted your discussion regarding the preceding information, then read and respond to a MINIMUM of 2 classmates. Open a discussion regarding their position and why you agree or disagree with their position and recommendations. Cite sources to support your position and ideas. Your initial post is worth 12 points. Your responses are each worth 4 points. Simply saying "ves" or "no" or "Lagree" or "L those points. Your support and application of principles and Course Chat - Pandora