please answer all the questions thankyou

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? w Use the following as a guide: Reported net worth (assets less liabilities) Less: Worthless receivables Decrease in value of equipment Revised net worth at its current market value Pxx (xx) (xx) Pxx Doooooon