(Answered) Accounting case 3 - self-employed metro accounting llcpeter

Accounting

ACCOUNTING CASE 3 - SELF-EMPLOYED: Metro Accounting LLC

Peter Ramirez asked for a loan of $40,000 to grow the business. The US Bank loan officer requested the financial statements as of April 30, 2014

The loan officer wants to see the Balance Sheet, Income Statement , the Statement of Cash Flow, and the basic financial ratios

Requirements:

1) Use the financial statements attached and prepare the Statement of Cash Flows for the period March 1 - April 30 2014. Use the guidelines learned in Chapter 12 of your textbook. YOU CAN DEVELOP YOUR CASH FLOW STATEMENT IN THE OPEN TAB OF THE TEMPLATE OR OTHER MEAN.

2) Calculate the following financial ratios as of April 30, 2014 ( use the guidelines learned in Chapter 13 of your textbook): Acid Test Ratio, Current Ratio, Current Ratio, Debt Ratio, Profit Margin, and Return on Common Stockholder's Equity.

3) Brief comments on the following: based on your financial analysis do you think the Bank would give Peter the loan? Respond Yes or NO and your reasoning about that.

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