Based on Pacific Grove Spices forecasted financial statements, are its profitable operations sufficient to quickly bring it into compliance with the banks requirements?You can answer this question by performing ratio analysis on Pacifics financial projections. Then you can check whether its forecasted sales growth levels bring the relevant ratios into compliance as requested by Pacifics bank.2) Should Pacific Grove Spice produce and sponsor the television program (note the NPV andIRR analyses for this project have been completed in Exhibit 3)?If you think Pacific should go ahead with the project, please comment on how it can finance the project. More specifically:(a) Can Pacific take on debt to fund the project?(b) If the only way to fund the television program is by issuing 400,000 shares of stock at $27.50 per share, should Pacific proceed with the project? To answer the question, determine the impact of the equity issue on Pacific's financial ratios, and also determine the equity issue's impact on Pacific's existing shareholders.