Boadway Corporation is a manufacturer of textile goods. The local market for such goods is currently not doing well, and therefore many entities in this business are switching to exports. As per the audited financial statements for the year ended December 31, 2017, the entity had net profit of $5 million. Significant portion of company's sales is on credit. At December 31, 2017. its current assets aggregate to $40 million and the current liabilities aggregate to $32 million. Due to expected favorable changes in the government policies for the textile industry, the entity is also projecting profits in the coming years. However, some of major customer who owe significant portion of company's receivables, have been declared as bankrupt. Furthermore, the shareholders of the entity have been looking for the dividends. Required Should Boadway Corporation prepare its financial statements under the going concern assumption? Justify your position with logical arguments. (3 Marks) 1 " B I E E %