Home Assignment 01 This is an individual assignment

Home Assignment 01 This is an individual assignment. It weights 10% of your total grade. So work it on your own and submit it on or before 27/04/2021. Please keep it within maximum one and a half page. It must be typed, 12 font size and single spaced. Read the following and answer the question follows: Susan told her friend that she was very angry with her father. She had asked her father for a car, and her father replied that he did not have the cash. Susan said that she knew that her father was not telling the truth because she had seen a copy of her father's business records. These records contained a balance sheet that showed a retained earning account with $ 650,000 in it. She said that anybody with $650,000 hod enough cash to buy her daughter a car. Required: Explain why Susan's assessment of her father's cash position may be invalid. What financial statements and which items on those statements would enable her to make a more accurate assessment of her father's cash position? May - 7 May