You are a commercial loans officer at a major bank. It is October 1. Halloween Costume and Supplies Shop, located in Regina, has approached you with a request for a loan. The company manager brought in a balance sheet and a listing of income statement accounts. The companys year-end is September 30. Prepare a report for your manager with the following: 1) Prepare an income statement in the proper format. 2) Is this a high or low-risk loan? 3) Provide financial analysis on the balance sheet (ratios) 4) Discuss any non-financial factors you may think are important 5) Recommend whether to provide the loan and why. Halloween Costume and Supplies Shop Balance Sheet As of September 30, 2019 ASSETS LIABILITIES AND EQUITY Cash $8,228 Accounts Payable $206,080 Accounts Receivable $368,280 Wages Payable $46,480 Inventory $42,480 Taxes Payable $84,000 Total Current assets $418,988 Total Current Liabilities $336,560 Store Furnishings $840,000 Long term debt $184,000 Accumulated dep'n ($404,000) Shareholders' equity $234,428 TOTAL ASSETS $754,988 TOTAL LIABI & EQUITY $754,988 INCOME STATEMENT ACCOUNTS Salaries expense $182,616 Cost of Goods Sold $740,740 Depreciation expense $69,322 Sales revenues $1,134,567 Office expenses $63,542 Selling expense $61,728 Income tax rate 20%