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Pearl Corporation was formed 5 years ago through a public subscription of common stock. Daniel...

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Accounting

Pearl 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 Pearl and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10,2021, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $34,960 notes, which are due on June 30,2021, and September 30,2021. Another note of $6,030 is due on March 31,2022, but he expects no difficulty in paying this note on its due date. Brown explained that Pearl's cash flow problems are due primarily to the company's desire to finance a $299,210 plant expansion over the next 2 fiscal years through internally generated funds.The commercial loan officer of Topeka National Bank requested the following financial reports for the last 2 fiscal years.
Answer questions 1-5. Please answer and show all work and i will cast a vote. Thanks!
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