Sham, a small business owner a

Sham, a small business owner approached your bank for a loan to purchase a vehicle for his wife Mia. The couple is paid by the business and keeps their savings in a joint account. The savings account has a balance of $250,000. Other assets include property of $1.5 million, vehicle $150,000, equity in the business $800,000, unit trust $1 million. They have just one loan at $125,000 and credit cards bills of $5,000. Their monthly income from the business is $15,000 each. The household expenses are $8,000 and their personal expenses are $5000 (Sham) and $7,000 (Mia).

Prepare a statement of affairs and income and expenditure for the couple (ignore taxes).

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