Dollar amounts in thousands (except per share amounts) Income Statement for 2021 Sales Revenue Cost of Goods Sold Expenses Gross Margin Sales, Administrative and General Expenses Earnings Before Interest and Income Tax Interest Expense Earnings Before Income Tax Income Tax Expenses Net Income Basic Earnings per Share Diluted Earnings per Share Assets $457,000 $298,750 $158,250 $102,680 $55,570 $6,250 $49,320 $16,850 $32,470 $3.82 $3.61 Balance Sheet at end of 2021 Cash $14,850 Accounts Receivable $42,500 Inventory $75,200 Prepaid Expenses $4,100 Current Assets $136,650 Fixed Assets $246,750 Accumulated Depreciation $(46.825) Fixed Assets $199,925 Total Assets $336,575 Liabilities Accounts Payable Accrued Accounts Payable Income Tax Payable Short-Term Notes Payable Current Liabilities Long-Term Notes Payable Owners' Equity Capital Stock (8,500,000shares) Retained Earnings Total Liabilities and Owners' Equity $8,145 $9.765 $945 $40,000 $58,855 $60,000 $85,000 $132,720 $217,720 $336,575 You are a newly minded MBA, recently-hired in a bank and considered for fast promotion. Your manager gives you the, attached, financial statements of a business and asks you whether the lending manager should consider extending credit to this entity. The entity, which is looking for a short-term loan, is a family retail business, selling farming products. The business was started by the grandfather when he immigrated to Canada, and the growth of the business mirrored the growth of BC Lower Mainland. The company has shares, held in big blocks, by family members and close associates, but it is not listed on a stock exchange.-S Because you are an MBA, your manager does not give you detailed instructions, yet expects from you a business memo with the results of your analysis, mainly based on financial ratio analysis.