Question Completion Status: QUESTION 1 Question 1 [15 marks] Sophie, Candice and Sarah are the only shareholder and directors in Acme Pty Lid, a trading company that supplies food products to cafe around Sydney. Assets of the company are limited to trading stock valued at about $200k. Delivery trucks are leased from Leasing Co Pty Ltd. In recent times, Acme's cash flows have been pressured because of late payments by debtors, including Cafe Now Lid (a franchise coffee shop with hundreds of outlets). This has caused Acme to be late in paying bills, particularly rent. Property Co Pty Lid, the owner of Acme's warehouse is threatening to evict Acme. At the same time the Acme's employees are taking industrial action and demanding a pay increase including a strike that stopped deliveries to customers for two days resulting in several customers cancelling their contracts with Acme. One major supplier East Pty Ltd is threatening to appoint a receiver over Acme if they cannot pay their outstanding account within 14 days. At a board meeting, Sophie and Sarah say they would like to negotiate with their creditors while Candice want to sell out and change industries. In particular, they are interested to hear about: (7.5 marks each) 1. Advise Sophie, Sarah and Candice of how different types of external administration could affect them? and 2. What impact would the procedure have on Acme's creditors? Question 2 [10 marks] Wester Corp Lid is a public company listed on the ASX and is involved in manufacturing and distributing drugs for COVID19 treatment. The company Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save A Support-LogMel....exe 6 9 9 9 OVO