Question 1 (9 marks) Yorkshire Developments is a business owned by Carol Haynes. The accounting for this business is done by Carol's sister Liz. Liz is currently preparing the 2017 year-end financial statements which Carol will use for three purposes: 1. to submit with her tax returns; 2. to support a loan application; and 3. to help her evaluate the success of the business. Instructions a. For each of the three purposes identified, briefly describe the user of the financial statements and the information they will need to get from Yorkshire Developments' financial statements. (6 marks) b. Liz has suggested that she can help Carol out by recording some January 2018 revenue in December 2017. She feels this is reasonable because it is just a slight timing difference and so \"not really dishonest\". Comment on the ethical implications of this suggestion and explain how each of the three users' needs may be affected if Liz implements her suggestion. (3 marks) Question 2 (14 marks) Starshine Coffee Equipment sells European style coffee makers and uses a perpetual inventory system. Its inventory records show that on June 1, Starshine had 12 units on hand at a cost of $220 each. Transactions related to purchase and sale of coffee makers in June were as follows: \"E.- June 10 Sale .- June 15 Sale 4 June20 Purchase \"$230 June 22 Purchase $240 _-- $500 Instructions For each of the following cost formulas. calculate the ending inventory as at June 30 and the cost of goods sold for the month of June. Prove the cost of goods sold calculations. a) FIFO (7 marks) b) Weighted Average (7 marks)