Using the company Tesla, Perform preliminary analytical procedures for the company: a. Obtain the financial statement data for the current year and prior two years. Analyze the year-to-year change in account balance for the following financial statement line items. Document the trend analysis in a format similar to the following: % Change % Change Account Balance 20212022 20202021 Net sales Cost of sales Operating expenses Operating income Net receivables Inventories Accounts payable Long-term debt b. For the current and prior years, calculate the common financial ratios that are applicable to the company, including short-term debt-paying ability, liquidity activity, ability to meet long-term debt obligation, and profitability ratios. c. Compare the companys main financial indicators (market cap, revenue, employees, revenue growth, gross margin, net income, and EPS) with the industry benchmark or major competitors. 4. Based on the background research and analytical procedures performed in Stages a-c, summarize your observations about the companys business, including your assessment of the clients business risk. Prepare a broad audit plan: 4. a. Which transaction cycles are the high-risk areas? b. Identify at least three risk areas in the audit of this company and describe: (1) the risk; (2) why you have assessed this as a specific risk; and (3) how you would perform the audit to address this risk. c. If management faced tremendous pressure regarding the entitys financial performance, what opportunities might exist for them to engage in fraudulent financial reporting? 5. Which audit firm performed the audit? What kind of opinion has the audit firm issued on the financial statements (and on the internal control over financial reporting)? Are they consistent with what you expect based on your previous analysis?