Loan Receivables of $924,000 to owner - what do you make of it?
February 01, 2023
by a professional from Northern Arizona University in Tucson, AZ, USA
I came across a business doing $746,000 in 2022
Net Income is $205,000
But Loan Receivables of $924,000 to owner - what do you make of it?
of course, if we buy it, it will be an Asset Purchase sales not including AR
But, I don't see any loan repayment line item on income statement.
And, Biggest concern is that the $924k was used by the owner to help the business somehow.
Any thoughts?