Prattle Ltd is an Australian listed firm which operates in the fashion industry. Prattle Ltd has both upstream and downstream operations through its subsidiaries from manufacturing to the final retail of its products to customers. As a part of the firms strategy to restructure and improve operational efficiency, the top management of Prattle Ltd has outlined three strategic projects for implementation in the coming year. These include: Expansion of its product line to include non-luxury clothing line items 60% expansion on their online sales offerings An implementation of blockchain accounting ledger Regarding the product line expansion and the online sales strategies, Prattle Ltd intends to use equity capital to finance these projects. The Chief financial officer (CFO) has proposed for the issuance of $6 million ordinary share to raise the needed capital. Alternatively, the firm could consider a debt financing option which is deemed to be relatively cheaper. However, the current debt covenant restriction of Prattle Ltd is likely to limit the firms ability to fully explore the debtfinancing option. In the context of the implementation of the blockchain accounting ledger, the head of the accounting department of Prattle Ltd is very optimist about its potential benefits for ensuring transparency and accuracy of the firms accounting records. For instance, she anticipates that frequent malfunctioning of the accounting information system as result of the current integration with the online sales platform may be adequately addressed by the implementation of the blockchain accounting ledger. Specifically, the frequent omission and/or duplication of transactions in the recording process could be eliminated. Nonetheless, she remains sceptical of the use blockchain accounting ledger. An extract of the Consolidated statement of financial position of Prattle Ltd as of 30 June 2022: Provide appropriate responses to the following questions based on the scenario presented above:

(1) Assuming Prattle Ltd would like to use the debt financing as an option to finance its intended expansion projects. Explain and demonstrate any two window dressing activities that could be utilised by the firm to make the debt financing option possible under its current debt covenant restriction. (Approximate word limit 300 words)

(2) Discuss any two ethical implications of the window dressing activities highlighted in question 1. (Approximate word limit 100 words)

(3) Provide an explanation of why and how blockchain accounting ledger may prevent the omission and/or duplication of transaction in Prattle Ltd.s accounting records. (Approximate word limit 300 words)