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Evaluating Financial Information as a Bank Loan Officer Stoscheck Moving Corporation has been in operation since January 1, 2017. It is now December...
Evaluating Financial Information as a Bank Loan Officer
Stoscheck Moving Corporation has been in operation since January 1, 2017. It is now December 31, 2017, the end of the annual accounting period. The company has not done well financially during the first year, although revenue has been fairly good. The three stockholders manage the company, but they have not given much attention to recordkeeping. In view of a serious cash shortage, they have applied to your bank for a $30,000 loan. You requested a complete set of financial statements. The following 2017 annual financial statements were prepared by a clerk and then were given to the bank.
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STOSCHECK MOVING CORP.
