10–16. It is usually appropriate to adjust the financials received from the target firm to reflect any changes that you, as the new owner, would make to create an adjusted EBITDA. Using the Excel-Based Spreadsheet on How to Adjust Target Firm’s Financial Statements on the CD-ROM accompanying this book, make at least three adjustments to the target’s hypothetical financials to determine the impact on the adjusted EBITDA. (Note: The adjustments should be made in the section on the spreadsheet entitled “Adjustments to Target Firm’s Financials.”) Explain your rationale for each adjustment.