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Transcription of this question: 2.Bip Bip (BB)Nicolås and Loura want to start up a vehicle rental business in Punta del Este, a seaside resort inthe Southern Hemisphere. The business will operate as a partnership and will be calledBip Bip (BB). Tourism is very high during the summer months (December to February in theSouthern Hemisphere); the beach and water sports attract many tourists. BBwill rent outconvertible cars, electric cars and minivans. BBwill purchase these vehicles through a leasingscheme.”Because most rental income will occur in a few months in a year, we must forecast our cashposition during the slow months,” says Loura. She has forecasted the following figures for the firstsix months of operation, beginning in December 2015. All revenues received and costs paid will bein cash. All cash sales are paid at the time of the vehicle rental.Monthly revenue from rentals: December 2015 toFebruary 2016Monthly revenue from rentals: March to May 2016Monthly overheads starting in December 2015Leasing fee for all vehicles, payable by BB everyother month starting in December 2015Monthly variable costs: December 2015 toFebruary 2016Monthly variable costs: March to May 2016Opening balance in December 20151100010002000500015003001000Due to the increasing importance of e-commerce, Nicolås is considering whether BB should offeran online booking service through their website. Some of BB’s competitors have online booking,but many have chosen not to offer this service.(a)(b)(d)Identify two possible sources of finance, other than leasing, that BB might use toobtain the vehicles.Identify two features of a partnership.(i)(ii)(iii)Prepare a monthly cash-flow forecast, for BB, for the first six months of operation.Comment on BB’s forecasted cash-flow position.Calculate BBs forecasted net profit for the first six months of operation (show allyour working).Analyse the advantages and disadvantages, for BB, of using an online booking service.