The Chief Finance Officer has presented to the Board of Directors of a Public University the Annual Financial Report and Statement for approval. As a member of the Board, you have been asked to study the Financial Report and prepare a paper for further discussion at the next Board meeting. The University has a student population of 12,000 with1,900 staff comprising of 1,000 academic staff and 900 Non Academic. In 2018, the University had 1600 staffs. The University has completed the construction of the main campus that will allow an increase of student capacity to 20,000. Question 1 : Your first task is to study the Assets and Liabilities of the University. a) What are Assets? Please also discuss the value of asset over time. Give examples of University assets that will increase in value and assets that will decrease in value over time. Hint: if you buy a car for RM 100,000 in 2016, how much money will you get if you sell your car now in 2020? b) Total Assets for 2019 compared to Assets for 2018? Discuss the sudden increase in value of the Assets. c) What are Liabilities? Total Liabilities for 2018 and give your comments on Assets/Liabilities of the University. What does it mean if the Liabilities are more than the value of the Assets? Observation, Conclusion and Suggestions for further actions