ASMT2V1.1 ACC6204 202120 MM AN (0) View References Mallings Review - A. A AASOCCOD ABCD AaBbc Emphasis Heading 1 Honding Q5. All was looking for a building suitable for a car repair business. Belal owned a building, and together they opened an auto repair business, Pit Stop Car Repair. All brought the tools, equipment, and expertise, and Belal provided the building space. They agreed to split the profits equally after all costs were deducted. a) Describe the initial business relationship of PitStop Car Repairs. Include the parties and their roles and responsibilities. PCA.2 (1 mark) A year later, PitStop Car Repairs was ready to open a second garage, but needed an extra AED 300,000 capital. A mutial friend, Dawood, was willing and paid PitStop Car Repairs AED 300k in exchange for 10% of the company's net profits for 5 years. The profits were to be divided during the next 5 years as follows: 10% to Dawood, Ali and Belal each getting 45%. None of these agreements were in writing, b) Explain the new type of business relationship of Pitstop Car Repairs. Be sure to describe the business relationship of the new party. PCA.2 (marks) English (UK) Focus 0 28 JW