USA Help! ASAP

[dannygenio]

I am preparing the Financial statements and they want a comparative financials. Please can someone clarify the below paragraph?

The Borrower shall deliver to the lenders statement of income, and changes in retained earnings, and statment of cash flows of the Borrower, as applicable, as at the end of and for (a) the period commencing at the end of the previous fiscal year and ending with the end of such quarter and (b) the period commencing at the end fo the previous fiscal quarter and ending with the end of such currently reported quarter, setting forth in comparative form the corresponfing figures for the appropriate periods of the preceding fiscal year.


For example if we are in the end of second quarter(Q2) do they want a Q2-FY12 vs Q2 -FY11? or Q2-YTD-FY12 vs Q2-YTD-FY11? or BOTH?

HATE THESE STUPID BANKS...

 

[kirby]

we are now in Oct so most recent ended qtr is 3rd qtr
so they want
YTD thru 3rd qtr 2012 (9 months of income) shown next to YTD 3rd qtr 2011 (9 months of income)
and
3rd qtr (3 months of income) only 2012 shown next to 3rd qtr only (3 months of income) of2011


and if you are not sure - I'd DEFINITELY call them and just ask (before you do all this work)