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Based on the information provided in the narrative and the financial statement above, please post a substantive response to the following parts of this Unit 6 Discussion:
If Patty wants to show the bank the maximum profit over the previous 2-year period, which costing method should she present?
But, the bank requires that all financial statements conform to Generally Accepted Accounting Principles (GAAP). Based on that requirement, which costing method should she present?
The bank has delivered a memo in preparation for the meeting to negotiate the Credit Line; the memo states that they will expect a significant Net Income. Based on your responses to parts A and B, what are the legal and ethical issues facing Stacy Lynn?
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