The case is in the attached.After reading case 4-5 Celtics in the textbook, write an essay that includes the following elements:

1. A formal introduction.
2. Answers to questions (a) through (e) of the case, focusing on the companys changes in gross profit for year to-year and their significance.
3. A conclusion.

Answer the following:

a.Comment on the amortization of NBA franchise and other intangible assets.

b.Would the discontinued operations be included in projecting the future? Comment.

c.The costs and expenses include team costs and expenses. Speculate on the major reason for the increase in this expense between 1996 and 1997.

d.What were the major reasons for the increase in income from continuing operations between 1997 and 1998?

e.Speculate on why distributions declared were higher in 1998 than 1996. (Notice that net income was substantially higher in 1996.)