"You Decide" Essay
You Are the Owner and Operator of a Growing

"You Decide" Essay
You are the owner and operator of a growing small business.You would like to expand your product offerings but need $25,000 in short-term financing in order to do so.You have an appointment to see your banker tomorrow.The banker has asked you to bring certain financial information with you to the meeting.That information is provided below:
$\begin{array}{|l|l|l|l|l|}\hline \text { at December } 31 \text {, }\\\hline 2013&2012\\\hline \text { Balance Sheet Information } & & & & \\\hline \text { Total current assets } & & \$ 66,000 & & \$ 75,000 \\\hline \text { Accounts payable } & & 2,610 && 1,500 \\\hline \text { Short-term notes payable } & & 12,010 & & 8,885 \\\hline \text { Income taxes payable } & 380 & & 560 & \\\hline \text { Income Statement Information } & & & & \\\hline \text { Sales } & & \$ 842,000 & & \$ 765,000 \\\hline \text { Net income } & & 10,275 & & 4,670\\\hline\end{array}$ Use your financial information to make a case for the loan.