question archive Bradburn Corporation was formed 5 years ago through a public subscription of common stock
Subject:BusinessPrice: Bought3
Bradburn Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Bradburn and is the current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2014, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,000 notes, which are due on June 30, 2015, and September 30, 2015. Another note of $6,000 is due on March 31, 2016, but the company anticipates no difficulty in paying this note on its due date. Brown explained that Bradburn’s cash-flow problems are due primarily to the company’s desire to finance a $300,000 plant expansion over the next 2 fiscal years through internally generated funds.
The commercial loan officer of Topeka National Bank requested the financial reports (balance sheet and income statement) for the last 2 fiscal years. See the Excel template for these reports.
Using this Excel template, provide the following information. Be sure to include formulas for the cells that are labeled formulas. Be sure all amounts are linked to the proper cells: