Th e fol lowing scenario relates to questions a-e Flute C o (Flute) is a large mobile phone company which ope r ates a netwo r k of stores in countries across Europe. The company's year-end is 3o June, Flute is a new a u dit client and you are have been provided with planning notes from the audit partner following his meeting with the During the year th e company Introduced a bonus based on sales fo r its sales team. The bonus target was based on increasing the numbe r of custome r s signing up fo r 24-month phone line months of th e year, Th e level of receivables is considerably highe r than last year and there are You arc to undertake a preliminary analytical review of the draft financial statements and have been prov ide d with th e following information R e v e nu e $ 51, 267, 000 Cost of sales $ 51, 013, 000 Receivables $ 5121, 000 Payables $ 87, 500 Inventory $ 560, 000 Cash $ 5123, 000