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Most of the equipment looks to be in good condition. You have asked to see his financials and he has provided the past 5 years

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Most of the equipment looks to be in good condition. You have asked to see his financials and he has provided the past 5 years balance sheets and income statements. Shifty has owned the restaurant for 15 years. You are representing your friend in the negotiation with Shifty as Abby does not really know the right questions to ask. Abby has experience as a chef but never managed a restaurant. 1. List the questions you would ask. 2. You do not know that Shifty's income statements are not correct. Revenue and profits that you are viewing are higher than the actual figures. How would you uncover the truth regarding these discrepancies? Situation: Your friend, Abby Applewhite, is interested in purchasing a restaurant (Shifty's Greasy Spoon Caf) that is for sale. You have experience in the business and have frequented this establishment several times. The food is very good, and the atmosphere is of a family restaurant. The menu is priced modestly for the quality of the food. The restaurant also serves alcohol and has a goodsized bar and looks to do significant beverage business. You have met with the owner, Robert Shifelle, who seems like a very nice person (even though no one knows his real first name - everyone calls him "Shifty" Shifelle)

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