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Taxes are current. <br /> <br />Accounting records are satisfactory,and financial statements will <br />be obtained quarterly. <br /> <br />V. EARNINGS COMMENTS AND CASH FLOW ANALYSIS <br /> <br />The Proforma Fixed debt is as follows: <br /> <br /> Year 1 Year 2 Year 3 Year 4 <br /> <br />Bank/SBA 40.2 40.2 40.2 40.2 <br /> <br />The Wirz's operation should be able to achieve, at a minimum, the <br />industry standard gross profit of 21%. They will have excellent <br />and highly qualified management help, in the person of Mr. <br />Joslyn, to make sure that this will happen. <br /> <br />VI. ~ALYSIS OF COLLATERAL <br /> ~o]l~e~a~ <br /> <br /> Loan <br />~lue D~is ~ Value <br /> <br />Land 72.5 book 80% 58.0 <br />Building 184.8 book 80% 147.8 <br />FF&E 40.1 book 67% 26.5 <br />Inventory ,7Q.0 book 90% _ 63~0 <br /> <br />Total 367.4 295.3 <br /> <br />Based on the above, in our opinion collateral is adequate to <br />protect the interests of both the bank and the SBA. <br /> <br />VII. USE OF PERSON;~ ASSETS <br /> <br />Lyle Wlrz has $117,000 in cash and saving. His personal resi- <br />dence is worth $85,000, and he owes nothing against it. Mr. <br />Wtrz' assets consist of a commercial lot worth $72,500 with a <br />mortgage balance of $40,500, the assets of his tree farm business <br />and approximately $32,000 in personal property and vehicles. <br /> <br />Dale Wirz has $5,000 in cash. He does not own a personal <br />residence. He has approximately $28,000 in personal property, and <br />his business, Wirz Nursery, Inc., owes him $63,000. <br /> <br />Neither of the Wirz's are <br />further into the business. <br /> <br />in a position to inject anything <br /> <br /> <br />