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Sloane Ltd

In: Business and Management

Submitted By acencath
Words 729
Pages 3
Sloane Ltd.
Statement of financial position
As at Dec. 31, 2009

Assets
Current Assets
Inventory
Long term Assets
Software development
Liabilities and Shareholder’s equity
Current liabilities
Salary payable 32,000
Interest payable 900
Long term liabilities
Bank loan 10,000
Loan from Sloane’s wife 80,000
Shareholder’s Equity
Share capital 20,000

We have to emphasize on the loans and the deposit that they, Sloane and Eanols, each invested in the company.

Ratio:
Debt-equity ratio: 90,000/20,000= 4.5 This high debt-equity ratio means that their company has an aggressive approach to financing their operation growth.

Disclosures: • There are already five contracts each worth $ 6’000 for our Inter Act program that have to be delivered by March 31, 2010 • Salary will go up for Alan and John by $3,000 each starting 2010 • There is a very positive potential growth in the company because they have 400 firms that are interested in their product. • Statistically, there are more small firms in the Canadian market, therefore they will more likely to buy a software for the computer than to afford a computer department.

Further information: • They have a lot of experience because they have been in this profession for over 10 years in the software giant IBM, and also they have spent many years in the development of Inter Act software. • They are planning to increase their working capital in the next year, so for sure they intend to be around for a long time. • Have to indicate the interest and the due date of the loan from Sloane’s wife and the bank. • They have to show the cost of the product and not just the time spent on it because their pricing is not the time-based pricing. • Low interest loan from Sloane’s wife means that low interest expense compare the higher loan interest that they normally

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