Global Exports Inc.

Pick your faviorite public company or any public company and find their latest annual report. These are avaiable on every website - usually on the bottom under a link called somethomg like "investor relations". Take a look at their notes and how they are written. In this assignment you are be going to write a note to a financial statement using the information given below. The following information pertains to a fictitious company, Global Exports Inc., specifically to their long term debt as of December 31,2022. Using the information given, write a short note for the financial statements describing the various parts of the long term debt and the company's future plans for dealing with the debt. Please upload your note in a word document using the link above. Global Exports Inc. - Long Term Debt - 12/31/2022 Long term notes payables (4% interest) of $15 million, maturing over next 10 years. 10% of principal is due this year $20 Million of 7% secured bonds collateralized on buildings, due in 10 years. $5 Million in 9% debenture bonds, due in 2 years. $100 million in outstanding 8% term bonds, maturing in 2025 Last year, the company borrowed $5 million at 4% from a related party, payable in 3 years Plans on redeeming above term bonds by issuing preferred stock Plans to refinance all outstanding debt with rates over 6% for lower interest notes. The company is considering raising new capital, either by issuing new bonds or by selling additional common shares.