2.2 Joseph asked you to prepare the financial statements required by the bank, so he can start the loan application process. You re-checked the financial statements and saw that for the year 2018, the company has a profit of £15,000, however, for the years 2019 and 2020, the company has losses of £8,400 and £18,300, respectively. Do you think the bank will approve the loan application of Joseph? Justify your answer

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