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You have been presented with the following set of financial statements for the Lynn Associates Trust (LAT), a REIT that is about to make an

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You have been presented with the following set of financial statements for the Lynn Associates Trust (LAT), a REIT that is about to make an initial stock offering to the public. This REIT specializes in the acquisition and management of regional shopping centers. Your firm, Blue Street Advisors (BSA), is an investment management company that is considering the purchase of LAT shares. You have been asked to prepare a financial analysis of the REIT Operating Statement Summ Net Revenue Less: ary S100,000,000 Operating expenses Depreciation and amortization General and administrative expenses 40,000,000 22,000,000 6,000,000 Management expense ?3.00?,00? 71.000.000 Total Expenses Income from operations Less: 29,000,000 Interest Expense Net Income (loss) $22,600,000 Balance Sheet Summary Assets Cash Rents receivable Properties a cost S 51,500,000 2,500,000 700,000,000 Less: Accumulated depreciation Properties net Total net assets Liabilities Short term Mortgage debt S 12,000,000 80,000.000 Total 92,000,000 Shareholder equity Total liabilities and equity S304,000,000 Analvsis: 1. Develop a set of financial ratios that will proved Blue Street Advisors (BSA) with useful information in the evaluation and comparison of Lynn Associates Trust (LAT) with other REITs. 2. Should BSA purchase LAT shares

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