Your team was hired to conduct an independent assessment of the performance of Sargassum Caribbean Incorporated (SCI). SCI is an agriculture startup that manufactures and supplies several types of fertiliser and soil amendment products. In your assessment of the companys performance as at December 31, 2020, please answer the following questions: 1. Explain the types of financial statements, what they are used for, and their roles in financial analysis: Balance Sheet Income Statement Statement of Retained Earnings Statement of Cash Flows 2. Assess the performance of SCI using the ratios below. Provide a thorough analysis that analyses the results as well as the usefulness of each ratio. In your responses, include any recommendations that may help the company to improve its performance: Current Ratio Quick Ratio Debt Ratio Return on Assets Return on Equity Receivables Turnover Fixed Assets Turnover Total Assets Turnover Profit Margin Gross Profit Margin 3. Identify the limitations of ratio analysis and identify other alternative measures that can assess a companys performance. 4. Create a slide presentation that presents the key elements of your report to SCI management. (This should be created as a separate document using PowerPoint, Canva or any other slide presentation software. Sargassum Caribbean Incorporated Balance Sheet as at December 31, 2020 Assets Liabilities Current Assets: Current Liabilities: Cash 200,000 Accounts Payable 600,000 Accounts Receivable 400,000 Notes Payable 300,000 Inventory 900,000 Total Current Assets 1,500,000 Total Current Liabilities 900,000 Fixed Assets: Long-Term Liabilities: Property, Plant & Equipment 1,200,000 Long-Term Debt 300,000 Less: Accumulated Depreciation 1,000,000 Total Long Term Liabilities 300,000 Net Fixed Assets 200,000 Owners Equity: Common Stock ($1 Par) 100,000 Capital Surplus 300,000 Retained Earnings 100,000 Total Owners Equity 500,000 Total Assets 1,700,000 Total Liabilities & Owners Equity 1,700,000 Sargassum Caribbean Incorporated Income Statement for Year Ending December 31, 2020 Sales 2,500,000 Less: Cost of Goods Sold 800,000 Less: Administrative Expenses 100,000 Less Depreciation 104,000 Earnings Before Interest and Taxes 1,496,000 Less: Interest Expense 20,000 Taxable Income 1,476,000 Less: Taxes 663,000 Net Income 813,000 Dividends 417,000 Addition to Retained Earnings 396,000