You are a commercial loans officer at a major bank. If is February 1, 2022. Valentine...

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You are a commercial loans officer at a major bank. If is February 1, 2022. Valentine Chocolate 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 account balances. The company's year-end is January 31. Prepare a report for your manager with the following: a. Complete an income statement in proper format. b. Is this a low or high-risk loan? C. Provide financial analysis on the balance sheet (ratios) d. Discuss any non-financial factors you may think are important. e. Recommend whether to provide the loan and why? Valentine Chocolate Shop Balance Sheet As of January 31. 2021 LIABILITIES AND EQUITY ASSETS Cash Accounts receivable Inventory $188,228 Accounts payable $228,280 Wages payable $42.480 Taxes payoble $458,988 $186,080 $56,480 $134,000 $376,560 Total Current Assets Total Curent Liabilifies Store furniahings Accumulated depreciation $840,000 Long term debf ($504,000) Shareholders equity $184.000 $234,428 TOTAL ASSETS $794.988TOTAL UABIUTIES AND EQUITY $794,988 Income Statement Accounts Salaries expense Cost of goods sold Depreciation expense $248,616 $610,740 $78,000 $1,144.523 $85.000 $41.727 Sales revenue Utikties Office expenses Income tax rate 23% You are a commercial loans officer at a major bank. If is February 1, 2022. Valentine Chocolate 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 account balances. The company's year-end is January 31. Prepare a report for your manager with the following: a. Complete an income statement in proper format. b. Is this a low or high-risk loan? C. Provide financial analysis on the balance sheet (ratios) d. Discuss any non-financial factors you may think are important. e. Recommend whether to provide the loan and why? Valentine Chocolate Shop Balance Sheet As of January 31. 2021 LIABILITIES AND EQUITY ASSETS Cash Accounts receivable Inventory $188,228 Accounts payable $228,280 Wages payable $42.480 Taxes payoble $458,988 $186,080 $56,480 $134,000 $376,560 Total Current Assets Total Curent Liabilifies Store furniahings Accumulated depreciation $840,000 Long term debf ($504,000) Shareholders equity $184.000 $234,428 TOTAL ASSETS $794.988TOTAL UABIUTIES AND EQUITY $794,988 Income Statement Accounts Salaries expense Cost of goods sold Depreciation expense $248,616 $610,740 $78,000 $1,144.523 $85.000 $41.727 Sales revenue Utikties Office expenses Income tax rate 23%

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Income Statement Income statement is a nominal account that depicts the n... View the full answer