Candice, who is a sole trader, drives a small van from which she sells ice cream and drinks. Candice paid $20,000 cash for the van, which is her only asset, and she pays cash for everything else including the purchase of ice cream and drinks. Candice has a relatively small number of customers. She makes average sales of $60,000 per year and earns an average profit of $25,000 per year. Required: Determine if the business outlined above is a Reporting Entity, stating the criteria (factors) used and your reasons. Also provide a conclusion and include the reporting requirements for a Reporting Entity or a Non-Reporting Entity, whichever is applicable in this case.