1. Considering the Debenhams Annual Report for 2018 as a whole and what you have seen relating to its cash flows, its income, and its balance sheet over the period 2014-2018, critically assess

(i) whether Debenhams has been engaged in earnings management or income smoothing during that period; and

(ii) whether Debenhams should be considered a going concern at 1^st September 2018. You should compare your views on (ii) with those of the auditors that are presented in the Annual Report.