(a)[13]
Prepare Lee’s income statement for the year ended 30 April 2019, and use the space on the next page for your workings.
(b(i))[4]
Prepare the current assets as they would appear in Lee’s statement of financial position at 30 April 2019.
(b(ii))[4]
Prepare the current liabilities as they would appear in Lee’s statement of financial position at 30 April 2019.
(c)[4]
State two benefits and two drawbacks of trading as a sole trader.
(d)[5]
Advise Lee on which option he ought to choose. Justify your answer.