a. Cricket Plc is a company that imports specialized cricket clothing and equipments for resale in London. They are very popular in the neighboring cities who are now inviting Cricket to open up branches to avoid travelling to London to make a purchase. The Board of Directors of Cricket Plc have agreed to initiate an investment in Newcastle to begin with which would require an investment of 1 million in the year 2022. Cricket Plc will have to borrow the additional funds needed including working capital requirements that will increase the company's loan by 1.5 million. As of 31 December 2021, Cricket Plc's loan stands at 900,000 and the equity at the same date is 1.7 million. Due to the uncertainty in business performance the chief accountant of the company predicts that the equity will increase marginally by 20%. (i) Discuss the impact on the financial statements and reputation of Cricket Plc, if they opted to take the additional loan for 1.5 million. (10 marks) (ii) Suggest other ways in which Cricket Plc can not only procure additional finance but also keep gearing low. (10 marks) b. "The accounting profession is known for its ability to assess and report the true and fair financial information for businesses. While opinions of the accounting industry tended to be favorable regarding its professional ethics, major accounting scandals severely eroded this opinion". Discuss (with at least 5 clear points) whether you agree or disagree with the above statement explaining the need for ethics for accountants in business. (10 marks) (Total 30 Marks)