/nPlease provide written responses to the following questions. All responses should be written professionally. PLEASE ANSWER ALL PARTS OF BOTH QUESTIONS 1. Client A's business is not doing well and it is expected that they will be in a three year / 36 month cumulative loss position as of Q1 2024. Client A had the following questions regarding the valuation allowance assessment it will need to perform in Q1 2024: a. What is one example of positive evidence and one example of negative evidence that Client A may consider when determining the need for a valuation allowance? b. Is the expected three year / 36 month cumulative loss position as of Q1 2024 positive or negative evidence? c. What is the difference between subjective and objectively verifiable evidence? Please provide an example of each. d. Given the expected three year / 36 month cumulative loss position as of Q1 2024 what is one future source of taxable income that Client A can evaluate to potentially mitigate the need for a valuation allowance? e. If no other positive or negative evidence exists except for the expected three year / 36 month cumulative loss and no future sources of taxable income exist what would be your valuation allowance assessment (i.e., either record a valuation allowance or do not record a valuation allowance)?

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