Reporting Entity - Part A Thomas who is a sole trader drives a small van from which he sells ice cream and drinks. Thomas paid $3,000 cash for the van, which is his only asset, and he pays cas for everything else including the purchase of ice cream and drinks. Thomas has a relatively small number of customers. He makes average sales of $45,000 per year and earns an average profit of $30,000 per year Required Determine if the business outlined above is a Reporting Entity, stating the criteria (factors) used and your reasons. Also provide a conclusion