Balance Sheet - (000's) Assets Cash Accounts Receivable Inventory Total Current Assets Property Plant and Equipment - Net Total Assets Statement Fort $ $ $ Bor 31-Dec-22 756 5,783 4,100 10,639 5,250 15,889 Funding Accounts Payable Operating Loan Accrued expenses Current Portion of Long Term Debt Total Current Liabilities Term Loan Capital/ Equity Total Funding mber 21 7077 $ $ $ $ 31-Dec-22 2,700 3,000 892 300 6,892 3,300 5697 15,889

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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based on the attached financials would you give this businss a loan. Mr. Richardson and take a $250,000 salary and his wife has $556,325. They have no debt and house worth 1.3M

Balance Sheet - (000's)
Assets
Cash
Accounts Receivable.
Inventory
Total Current Assets
Property Plant and Equipment - Net
Total Assets
Beginning inventory
Purchases
Ending inventory
Total Cost of Goods Sold
Gross Profit
$
Operating expenses
Earnings before interest and taxes
$
$
31-Dec-22
756
5,783
4,100
10,639
5,250
15,889
Income Statement - For the 12-Month Period Ending December 31, 2022
Net Sales
$
Cost of Goods Sold
08
Funding
Accounts Payable
Operating Loan
Accrued expenses
Current Portion of Long Term Debt
Total Current Liabilities
3,600
38,769
44,700
4,100
40,600
10,308
8,907
1,401
Term Loan
Capital/ Equity
Total Funding
$
$
$
$
31-Dec-22
2,700
3,000
892
300
6,892
3,300
5697
15,889
Transcribed Image Text:Balance Sheet - (000's) Assets Cash Accounts Receivable. Inventory Total Current Assets Property Plant and Equipment - Net Total Assets Beginning inventory Purchases Ending inventory Total Cost of Goods Sold Gross Profit $ Operating expenses Earnings before interest and taxes $ $ 31-Dec-22 756 5,783 4,100 10,639 5,250 15,889 Income Statement - For the 12-Month Period Ending December 31, 2022 Net Sales $ Cost of Goods Sold 08 Funding Accounts Payable Operating Loan Accrued expenses Current Portion of Long Term Debt Total Current Liabilities 3,600 38,769 44,700 4,100 40,600 10,308 8,907 1,401 Term Loan Capital/ Equity Total Funding $ $ $ $ 31-Dec-22 2,700 3,000 892 300 6,892 3,300 5697 15,889
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