NOTE- I NEED THIS ASSIGNMENT WITHIN 4 HOURS. I NEED UR HELP PLEASE SOLVE IT AS SOON AS POSSIBLE.

Use the Sample Accounting Question in your class material as your guide.

You are a commercial loans officer at a major bank. It is October 1. Halloween Costume and Supplies Shop, located in Regina, has approached you with a request for a loan. The company manager brought in a balance sheet and a listing of income statement accounts. The companys year-end is September 30.

Prepare a report for your manager with the following:

1. Prepare an income statement in proper format.
2. Is this a high or low risk loan?
3. Provide a financial analysis on the balance sheet (ratios)
4. Discuss any non-financial factors you may think are important
5. Recommend whether to provide the loan and why.

		Halloween Costume and Supplies Shop
		Balance Sheet
		As of September 30, 2020
ASSETS				LIABILITIES AND EQUITY
Cash		$58,228		Accounts Payable		$306,080
Accounts Receivable		$368,280		Wages Payable		$46,480
Inventory		$142,480		Taxes Payable		$84,000
Total Current assets		$568,988		Total Current Liabilities		$436,560
Store Furnishings		$940,000		Long term debt		$184,000
Accumulated dep'n		($440,000)		Shareholders' equity		$448,428
TOTAL ASSETS		$1,068,988		TOTAL LIABI & EQUITY		$1,068,988
	INCOME STATEMENT ACCOUNTS
	Salaries expense			$182,616
	Cost of Goods Sold			$1,540,740
	Depreciation expense			$69,322
	Sales revenues			$2,134,567
	Office expenses			$63,542
	Selling expense			$61,728
	Income tax rate			15%