You are a commercial loan officer at a large bank. The date is October 1st. The Halloween Costume and Gear Store in Regina has reached out to you with a credit request. The company executive brought in a balance sheet and a list of income statement accounts. The company's year-end is September 30.

		Halloween Costume and Supply Store
		Balance
		As of September 30, 2020
ASSETS				LIABILITY AND EQUALITY
in advance		$58,228		Accounts payable		306.080 $
Accounts receivable		368.280 $		Fees Payable		$46,480
Inventory		$142,480		Taxes Payable		84.000 $
Total current assets		568.988 $		Total current responsibilities		436.560 $
Store Furniture		940.000 $		long-term debt		184.000 $
accumulated debt		(440.000 $)		Joint capital		448.428 $
TOTAL ASSETS		1.068.988 $		TOTAL LIABILITY & EQUITY		1.068.988 $
	INCOME STATEMENT ACCOUNTS
	Salary expenses			182.616 $
	cost of goods sold			1.540.740 $
	depreciation expense			$69,322
	Sales revenues			2.134.567 $
	office expenses			$63,542
	selling expense			$61,728
	Income tax rate			%15

Prepare a report for your manager that includes:

1. Prepare an income statement in the appropriate format. Is this a high or low risk loan?
2. Provide a financial analysis on the balance sheet (ratios)
3. Discuss the non-financial factors you think are important
4. Suggest whether the loan will be granted and why.