The applicant for renewal of a license shall submit an application for renewal of such license to the license officer on such form as that officer may direct, and shall disclose thereon such information concerning the conduct and operation of such licensee’s business during the preceding licensing period as may be reasonably required by the license officer and may be reasonably necessary for determination of the licensee’s eligibility for a renewal license and possible adjustment of the license fee. Unless otherwise notified by the licensee, the license officer is entitled to presume the continued operation of any business licensed in the preceding year. (2003 Code)