You have just completed the audit fieldwork on Pioneer Pty Limited for the year ended 30 June, 20X4. The following summary points have been raised on the audit completion summary. (a) Going concernthe company and the economic entity have incurred substantial trading losses for the current year. While the company and the economic entity still have a positive net asset position, further losses in future years may result in the deterioration of the capital base. The continuation of the company and the economic entity as a going concern is dependent on the continued financial support of the company's bankers and the ability of the trading businesses within the economic entity to generate a positive cash flow. Discussions with the bankers indicate that it is their present intention to continue to support the group in the hope that the group can reverse its current trading position. The following historical information is relevant. 20x4 20x3 20x2 20x1 20X0 Turnover $'000 20,000 25,000 26,000 24,000 22,000 Profitlaoss) after tax $00!! (4,000) (1 ,000) 1 ,000 2,000 5,000 Net current Assets/(ab) $'000 (500) (200) 400 600 800 Net assets $1100 3,200 7,200 8,200 7,200 5,200