A new client, an office furniture manufacturer in Eastern Canada, is currently negotiating a loan worth $1.5 miliion to avoid defaulting on its long-term debt that is due in three months. Its latest quarterly earnings report indicated the entity has a working capital deciency of $250,000, while its cash balance fell to $125,000, down from $250,000 a year earlier. There is a 0521 current ratio. There is little expectation of improved sales and the entity plans to cut back on production to preserve cash. It has also been paying suppliers iale consistently and some suppliers have begun demanding cash on delivery from the client. As a result, the share price has plunged and the entity has lost more than half of its market value in the last week. Required: Discuss whether there are any events or conditions that may cast doubt on the new client's ability to continue as a going concern. Make a conclusion as to how the auditors would assess the overall risk of going concern for this client. Are there any mitigating factors in this case