General requirements

General requirements. (1) Operating statement. If required by the department, the applicant shall submit an income statement or other financial statement. The department may require a dealer to submit updated financial information during the license year if questions arise regarding the dealer’s financial condition. (2) Acceptable net worth. (a) The following guidelines are used in determining the acceptable level of net worth of an applicant: (b) The department may deny the license of an applicant who fails to meet the net worth criteria set out in par. (a) .