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11. Two business proprietors approached you for a loan. Maamo has a travel agency with asset worth P500,000 and liabilities of P200,000. Maganda has a beauty parlor with assets worth P400,000 and liabilities of P200,000. Both businesses are doing well and earning P100,000. They plan to borrow P300,000 and put up a branch. You will need to know: a. How much each net worth? The higher the net worth, the more business is solvent. b. Is the business profitable? Compute for return on equity: net income divided by ne worth x 100. Compute for return on assets: net income divide by assets x 100. c. Who is more solvent? Who is more profitable? d. Decide whom to lend? 12. Gary, a businessman, plans to sell his Rent A Car Agency and go abroad to join his family. He offers to sell his business to a friend, Willy. The assets amount to P1,500,000 one third of which was borrowed from the bank and is still outstanding. Willy wants to know what the fair price for Gary's business will be. He has only P750,000 and thinks that it may not be enough. You agreed to help her and asked for Gary's statement of financial position. The assets include accounts due from clients P150,000 whose whereabouts Gally could not for certain know anymore except for one customer who owes P50,000. Repair equipment is another asset listed in the statement as P500,000 which was brought ten years ago but is currently worth half its cost price. Given this information, what will be the revised total assets of the business and what will be its net worth to the owner? Will the money of Willy's be sufficient to by the business of Gary? Pxx Use the following as a guide: Reported net worth (assets less liabilities) Less: Worthless receivables Decrease in value of equipment (XX) (xx) Pxx Revised net worth at its current market value