please kindly solve the problem and write a short report as required.
Microsoft Word - 2018 SP6 Assignment 1 - ACC81210 ACC81210 Accounting for Managers, Assignment 1, SP6 2018 Page 1 of 2 ACC81210 (Accounting for Managers) SP6, 2018 ASSIGNMENT 1 (20 MARKS) Question 1 (14 marks) G8 Education is a provider of childcare and education facilities across Australia and Singapore. Below is three years of the company's financial position. a) Provide a report based on your evaluation of each of the three years in terms of liquidity, solvency, asset mix. (300 words) (9 marks) 2015 '000s 2016 '000s 2017 '000s Current assets 226,537 61,572 92,186 Non-current assets 1,007,652 1,111,643 1,200,990 Total assets 1,234,189 1,173,215 1,293,176 Current liabilities 260,353 114,803 151,058 Non-current liabilities 371,051 432,537 276,783 Total liabilities 631,404 547,340 427,841 Owners' contributions 603,043 641,848 876,394 Reserves 43,635 35,649 44,552 Retained earnings (43,893) (51,622) (55,611) Total owners' equity 602,785 625,875 865,335 G8 Education has the following non-current assets: Non-current assets 2015 '000s 2016 '000s 2017 '000s Property, plant & equipment 41,370 54,845 63,906 Deferred tax assets 21,678 15,415 16,220 Goodwill 944,604 1,015,002 1,087,969 Other non-current assets - 23,022 32,273 Derivative financial instruments - 3,359 622 Total non-current assets 1,007,652 1,111,643 1,200,990 b) G8's full annual reports for 2015, 2016 and 2017 are available on Blackboard. Refer to the notes to the financial statements and provide examples of Property, plant & equipment. (3 marks) c) What is goodwill? Why has G8 recorded goodwill in their accounts? (2 marks) ACC81210 Accounting for Managers, Assignment 1, SP6 2018 Page 2 of 2 Question 2 (6 marks) The following is a list of the assets and claims of Genoa Foods as at 30 June 2018: $ Accounts payable $ 63,000 Delivery vehicles $ 54,000 Loan from Westpac $300,000 Plant and Machinery $207,000 Cash at bank $ 18,000 Inventory raw materials $ 36,000 Inventory finished goods $ 65,000 Fixtures and fittings $ 23,000 Buildings $360,000 Accounts receivable $ 94,000 Other information: Opening owners equity was $300,000 and the business had $44,000 of drawings in 2018. Hint: There is a missing figure which needs to be deduced and inserted. Required: Using the vertical format and proprietary approach, prepare the statement of financial position (balance sheet) of the business as at 30 June 2018. (6 marks)