Dr. Anderson is seeking a $146,000 loan to refinance the balance of an existing loan with GE Healthcare Finance and to acquire new equipment. He is seeking a seven-year loan. $116,000 of the loan amount is designated to repay GE, and the remainder is for acquisition of new equipment.
Review Dr. Anderson’s case and answer the following questions:
1) How much revenue does Dr. Anderson generate from his practice?
2) What portion of his revenue does his salary represent?
3) How does Dr. Anderson supplement its income from his business?
4) Does the source of his additional income generate any liabilities for him? If so, provide the total value of the liabilities and the total corresponding annual obligations these liabilities create for him.
5) Dr. Anderson has sold some of its real estate properties. Identify the how Dr. Anderson was paid for each of the real estate transactions?
6) Dr. Anderson has a car loan outstanding with GMAC, but uses the vehicle for business. Discuss the cash flow implications of this arrangement.
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