The chief executive officer of Romney Heights has included the following information from the financial statements in
Question:
The chief executive officer of Romney Heights has included the following information from the financial statements in a loan application submitted to Acme Bank. The company intends to acquire additional equipment and wishes to finance the purchase with a long-term note.
INSTRUCTIONS:
Assume that you, a bank loan officer, review the financial statements and recommend whether Romney Heights should be considered for a loan. For your solution, do not make any calculations. Instead, provide a few comments that support your answer after observing the financial statements.
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