Complete the following:

a is there going concern going concern issue in this case? (explain)

b see image

Wilson Proprietary Limited is a private company that runs a fleet of delivery trucks along the east coast of Australia. The company has been operating successfully for more than 30 years but over the past few years' things have been getting more difficult. When asked why things were getting more difficult, Wilson management indicated that the Australian government has been offering increased subsidiaries to those businesses that use rail freight (i.e., trains) to move their products. In addition to this, two major national freight companies have been offering discounts to Wilson customers and a few of these customers have shifted their business to those national freight companies. Wilson has responded to this increased competition by lowering its freight charges, but this has had a significant negative impact on its profit dropping from an average of $280,000 per annum after tax to zero profit. In the current financial year Wilson Pty Ltd is struggling to cover its operating expenses and is currently in the process of negotiating a $400,000 loan with the bank to replace three of its older trucks and to help cover some operating expenses. Currently, the bank has indicated that they will only provide the $400,000 loan if the owner of Wilson Pty Ltd offers his private house as security. While the owner is reluctant to provide the home as security there appears to be no other alternative. In the current financial year Wilson Pty Ltd is struggling to cover its operating expenses and is currently in the process of negotiating a $400,000 loan with the bank to replace three of its older trucks and to help cover some operating expenses. Currently, the bank has indicated that they will only provide the $400,000 loan if the owner of Wilson Pty Ltd offers his private house as security. While the owner is reluctant to provide the home as security there appears to be no other alternative. Responding to questions about the viability of the business, the owner of Wilson Pty Ltd is confident that they will be able to negotiate a new loan with the bank and will be able to attract new customers because of their reputation of being the most reasonably priced and reliable freight company on the east coast of Australia. Complete the following: a. Is there a going concern issue in this case? Explain your response. b. Are there any factors that will ease or mitigate the issues surrounding the going concern issues in this case? Explain your response