please help

Bob and John had planned for their barbershop for four months and had been in business for three months. They often started their day discussing problems but the discussion of financials rarely came up. However, when they went to their mentor Jack, he asked them questions about their financials. These questions made Bob and John realize that they needed to spend some time with their financlals to see If they had problems or not. Bob and John's Initial discussions lead them to three porticular problems in the financials: - The owners were feeling that they were not making the money they had expected since they had not been able to find someone to consistently rent either of the two extra chairs in the shop. During their discussion, they realized that they were not even sure if in fact they were making a profit. - The need to replace the air-conditioning unit for the bullding. Bob and John had not read the lease carefully and had not understood that this major cost was their responsibility, not the buliding owner's. They did not know for sure what their overhead expenses were. To help pay for the barber chairs John and Bob had borrowed money from John's brothec it was intended to be a shortterm loan, but Bob and John were unsure whether they could repay it. Overall, the partners realized that they could not answer questions about thelr financlals. To date, the two had largely been keeping track of their financlals in their heads and paying blils simply as they came in. It was clear that they needed a systematic way to track their finances and begin to caiculate some key financial ratios. Unfortunately, they were not clear about how to put this key system into practice. They did find free systems such as Wave and ZlpBooks. but they were not appropriate for a small barbershop. To get someone to design a system for the shop could be very expensive, and the partners were not sure what to do. QUESTIONS 2. For a barber shop, what levels are appropriate for comparing for its ratios-national, regional, or local? Where would Bob and John get that information? 3. What would be an appropriate way for a smail business with a limited budget to than the barbers were doing