The company, The Lazy Makoti is a culinary platform that offers cooking lessons for the modern African looking to make traditional meals with a contemporary twist. The founder, Mogau Seshoene is also looking to expand her small business into a range of locally produced kitchen accessories and a cookbook filled with South African favourites. Mogau is a trained chef and award-winning cookbook author. She founded The Lazy Makoti in 2014 after leaving the corporate world to focus on her love for food. What began as lessons for a friend, a brideto-be who was afraid of being labelled The Lazy Makoti (the lazy daughter-in-law) because she couldnt cook, evolved into a business, and inspired its name. Through the Lazy Makoti, Mogau shares her passion for food and people through her live interactive cooking lessons and her widely followed social media Mogau has asked you to value her young company, the company is not listed so all information regarding its performance since its inception is provided to you. The main themes in this information include: Low sales in the year the company started (2014); but steady growth until 2020, where performance was impacted by COVID. However, sales growth has started picking up again at the beginning of 2022. Whilst the companys revenues are increasing, it still shows signs of low, sometimes negative income. Positive operating income is something the company is working hard at achieving, but Mogau admits that her main focus is still on strengthening revenue growth. Because the company is not listed there is no share price available. Armed with this set of information you have a choice of ratios on which to base your valuation, these include the companys: Enterprise value to Sales ratio

Enterprise value to EBITDA ratio Enterprise value to EBIT ratio Price-Earnings ratio Which of these four ratios will you choose as a basis for your valuation? Explain why you have chosen these / this ratio. Explain why you have not selected the other ratios.