Imagine you’re opening a boutique in Hangzhou, China, that specializes in casual clothing, like Urban Outfitter. Your boutique mainly sells clothes and accessories, and the overall price range is between $100-$200, and no more than $300.
-Please write a personal financial statement based on this boutique. Include personal financial statements for each owner and major stockholder, showing assets and liabilities held outside the business and personal net worth. Owners will often have to draw on personal assets to finance the business, and these statements will show what is available. Bankers and investors usually want this information as well.
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