Input information from the SBA Personal Financial Statements given to Sharptop Bank into a spreadsheet.

a. Separate personal items (e.g., residence) from business items (e.g., inventory).

b. Calculate common-sized percentages (divide each number by gross receipts for income statement items and total assets for balance sheet items for that particular year).

c. Review the dollars horizontally across the three years and vertically down each year and identify any material irregularities.

d. Review the percentages horizontally across the three years and vertically down each year and identify any material irregularities.

e. Trace business items (e.g., accounts payable) to information provided by suppliers (e.g., fuel, groceries, beverage, tobacco, and print media sales summaries). Calculate any differences.

f. Compare the reported inventory to the income tax returns and proof of loss (e.g., ending inventory). Calculate any differences.