Unformatted text preview: assets equal your liabilities and stockholder’s equity. It was great to see that despite having very profitable assets, your liabilities still remained relatively low. Profitability is an essential component of being in business. Your statement of retained earnings, which of course is the money that your business has retained rather than distributed to owners, is a great source of positivity for us to allow you to accept this loan. In one month’s time, they too have increased which shows that your business is growing financially. It would be our pleasure to extend this loan of $5,000 to you to be paid within two years from your latest financial statements end: August 31, 2015. We thank you for your continued patronage and look forward to hearing of Hatters Ride’s increased success....
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- Fall '13
- Financial Accounting, Generally Accepted Accounting Principles, loan request, Spencer Whittaker, Mr. John B. Stetson