Please read the Paley Products case study through page $6$ to understand the company and the issues it is facing. After you have read through the case, complete the following tasks: $1.$ Use the profit improvement program information on page $6$ to forecast the following for Paley Products for $2017$: Income statement $(100$ points$)$ Balance sheet $(100$ points$)$ Cashflow statement $-$ sources and uses of funds$(100$ points$)$ You can refer back to the Module $1$ video and PowerPoint presentation for formats of the Income Statement and Cashflow Statements. Balance Sheets and Income Statements are also included in the case study.$2.$ Next, prepare the following ratios for Paley Products: $(150$ points$)$ Current Ratio Quick Ratio Inventory Turnover DSO $$ Days Sales Outstanding DPO $$ Days Payables Outstanding Gross Profit Margin Net Profit Margin Return on Assets Return on Equity Debt Ratio Debt$/$Equity Ratio Please refer to the Module $5$ video and PowerPoint presentation for guidance and calculation for each ratio. Compare the ratios to the industry ratios provided in the case study. $3.$ After you have completed the forecasted financial statements and ratios; answer the following questions: $(150$ points$)$ Will the company be able to pay off their debt? Is the company facing any problems or issues? How does the company compare to their peers in their industry? Do you see any trends or areas of concern from your analysis of the company$$s financials?