Question 2: (30 marks) a. Explain the meaning of corporate governance and briefly discuss the primary objectives of implementing corporate governance mechanisms. Give examples. (15 Marks) b. The balance sheet of Fahmy plc. shows the following information in its assets and liability and equity section: Assets Non-current assets Current assets Total Assets $ 520,000 120,000 640,000 120,000 Liabilities and Equity Total Liabilities Equity: Share capital : ordinary shares of $ 5 each Reserves : Share premium Reserves : Retained earnings Total Liabilities and Equity 360,000 120,000 40,000 640,000 Fahmy Plc. Needs to raise more cash and decided to make 1 for 3 rights issue, fully paid in cash at a price $8 per share. Required: Show by using detailed workings the effect on the balance sheet accounts of the rights issue. (15 Marks)