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Refer to the 2017 annual report of Woolworth on its website, and answer the following questions...

Refer to the 2017 annual report of Woolworth on its website, and answer the following questions using the consolidated income statement and balance sheet/ statement of financial position and notes to the consolidated financial statements

1.Refer to the balance sheet (statement of financial position) of Woolworth and the note titled ‘issued capital’. How do these differ from that of a typical partnership? Explain.

2.Woolworth is required to produce a statement of cash flows (cash flow statement) and include this in its annual financial statements. Would the typical partnership be required to prepare such a statement? Why or why not? Would a typical partnership prepare such a state­ment? Explain.

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