Write a brief report to Julie and Katy commenting on the financial performance of the business: • Calculate the following financial ratios and provide comments – Current ratio Industry average is 5:1 Accounting Norm is 3:1 Quick ratio Industry average is 4 : 1 Accounting Norm is 1:1 • Calculate and provide a cash flow statement for the first month of trading. • List and briefly explain the registrations and legal requirements that Katy would have undertaken to establish the business name as a sole trader. • Katy is contemplating for Alex Perry a partnership or a company. What extra General Ledger accounts would have to be created for A Partnership A Company
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