You are the possessor of a retail store conducting

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You are the possessor of a retail store conducting merchandising activity. You need to go to the bank for a loan and know that your profits are too low and the bank will probably deny your request. In what ways will you manipulate your income statement and your balance sheet to falsely show increased profit that is, net income. Be precise as to the how you would accomplish this. Keep in mind that the net profit on the income statement ends up on balance sheet in retained earnings so you have to make adjustments to both and also possibly cash flow statement so it all ties together and balances. List at least four different ways.

Reference no: EM13370908

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