2.2Joseph 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...

2.2Joseph 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. ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________