please answer the questions

GASREMAINING Case 5 1 :Can You Trust Mom and Pop? To sellyou ine with son, Mom and ! just eyeit to re I elard take it e. And We're operated this restaura it for a lot of years and have built up a good customer base. Morn's cooking has always brought them hand the service has always been quick and courteous." Jim Phillips is well aware that a restaurant can be a pronite ble business venttir, but he decent know much about Mem & Pups Diner and how successful It really is. Fred and Wthiel, the owners, appear to be straightforward heres; people. how recently saw the ad for The restaurant In the wate trade association magazine and hee driven 200 miles to check It out Mem & Pop's Diner is located In a working class nelgaborload in a large Eastern Lite It's housed in an older building and could use some renovation, When | m mentions the conditon of the equipment, Ethel laughs and says," They don't make stuff like wit anymore, Sonny?" I'm alee is concerned by the feet that several franchise restad ant chains have opened In the past few years within one mile of the diner. JIm Is puzzled when he asks Fred ffe can study the diner's franc al statements for the past five years and Fred soys, "What "Inancial statemer ? What do you think we are, a corporation? I press last year the deared about $10,000." Respond to the following questions: 1 If you were jim Phillips, how would you further investigate Mom & Pap's Diner? 7, lcentity any warning & gns to jimi that all may not be as it seems. 3, What are some of the potential problems jim faces the buys the direr