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statements. Analysis of these data can enable auditors to discern relationships that raise questions about misleading financial statements. Required: Company is as follows: EXHIBIT 4.53.1
statements. Analysis of these data can enable auditors to discern relationships that raise questions about misleading financial statements. Required: Company is as follows: EXHIBIT 4.53.1 Retail Company - The new bank loan, obtained on July 1 of the current year, requires maintenance of a 2:1 current ratio. - Principal of $100,000 plus interest on the 10 percent long-term note obtained several years ago in the original amount of $800,000 is due each January 1. - The company has never paid dividends on its common stock and has no plans for a dividend. statements. Analysis of these data can enable auditors to discern relationships that raise questions about misleading financial statements. Required: Company is as follows: EXHIBIT 4.53.1 Retail Company - The new bank loan, obtained on July 1 of the current year, requires maintenance of a 2:1 current ratio. - Principal of $100,000 plus interest on the 10 percent long-term note obtained several years ago in the original amount of $800,000 is due each January 1. - The company has never paid dividends on its common stock and has no plans for a dividend
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