The goal of financial analysis is to use financial data to evaluate the current and past performance of a firm and to assess its sustainability. There are two important skills related to financial analysis. First, the analysis should be systematic and efficient. Second, the analysis should allow the analyst to use financial data to explore business issues. Ratio analysis and cash flow analysis are the two most used financial tools. Ratio analysis focuses on evaluating a firm's product market performance and financial policies; cash flow analysis focuses on a firm's liquidity and financial flexibility.In this project, you are required to analyse the company's financial statements. In doing so$,$ you should follow the structure outlined below and make use of the material covered in class.A Hypothetical Case StudyPharmamax is a new pharmaceutical firm that began operating in the Palestinian market three years ago.Despite being an entrant to the industry, Pharmamax has made progress by employing innovative advertising strategies to provide a wide range of pharmaceutical products. The firm has been operating in the Palestinian pharmaceutical market for more than two years, and its financial statements are available in the appendix for your investigation and consideration.Requirements: Conduct some desk research to develop an understanding of the pharmaceutical industry in Palestine. Select one Palestinian pharmaceutical company to use in the benchmark analysis $-$ comparing financial status and performance with Pharmamax. Perform an internal analysis of Pharmamax financial performance and position by employing various analytical methods such as trend analysis, common$-$size analysis, financial ratios $($such as liquidity, profitability, and solvency ratios$),$ Dupont analysis, Z$-$score calculation, and other relevant tools that had been covered throughout the semester. Furthermore, evaluate Pharmamax's findings externally by benchmarking $($use the company you selected in step $2)$ its ratios, conducting common$-$size comparisons.Please follow the following steps to conduct the financial analysis of Pharmamax:$1.$ Enter the attached financial statements into a New Excel and make sure that the numbers have been entered correctly so that you may upload it after you have completed the entire assignment. $2.$ Write an introduction that gives a brief outline of the Palestinian pharmaceutical sector. Include critical information regarding the industry's market size, competitive landscape, export$-$import dynamics, and regulatory frameworks. $3.$ Construct a cash flow statement for Pharmamax using the attached financial statements. This needs to be done using both the direct and indirect methods. $4.$ Analyse the Pharmamax attached financial statements, including the cash flow statement, using the following tools:a$)$ Financial ratios$($all the ratios covered in class$)$ of pharmamax and those of the Palestinian pharmaceutical company of your choice.b$)$ Vertical common$-$size analysis: to understand the relative proportions of account balances for each of the available years $(2021-2022).$ Compare to those of the Palestinian pharmaceutical company of your choice. c$)$ Horizontal analysis: to determine trends and patterns of growth over time for the Pharmamax company and compare to the competitor d$)$ Dupont Analysis. e$)$ Z$-$score. $5.$ Interpret the company's financial performance based on ratio analysis and clarify the company's liquidity performance, operational activity, profitability, and debt in comparison with the competitive company of your choice. $6.$ Given the financial statements, calculate the basic earnings per share and the dilutive earnings per share for the year ended $2022.$ Accordingly, find the weighted average number of shares outstanding, and thereafter, find the basic and dilutive EPS, given that the company also has a dilutive security represented in $15,000$ preferred stocks that pay $40\%$ of the dividends reported in the income statement and are convertible into two common stocks each. In addition to $$60,000$ of $4\mathrm{.}5\%$ convertible bonds,there is a total of $12,000$ common shares. Consider the following information: DateShares ChangesShares OutstandingJan $-22$Beginning balance$100,000$Apr $-2230,000$ Shares issued$130,000$July $-2240,000$ Share repurchased$90,000$Oct $-2250\%$ stock dividend$135,00031-$Dec$-22$Year$-$end Balance$135,0007.$ Finally, after you've completed your analysis, write a brief conclusion based on the results and your own reasoning.

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This is the financial statement: