Purpose of AssignmentThe purpose of this assignment is to help students gain a better understanding of the financial statements used for corporate financial reporting and the key ratios used to make business decisions.Assignment StepsSelect a Fortune 500 Company from one of the following industries:PharmaceuticalEnergyRetailAutomotiveComputer HardwareReview the balance sheet and income statement in the company’s 2015 Annual Report.Calculate the following ratios using Microsoft® Excel®:Current RatioQuick RatioDebt Equity RatioInventory Turnover RatioReceivables Turnover RatioTotal Assets Turnover RatioProfit Margin (Net Margin) RatioReturn on Assets RatioAnalyze in 1,050 words why each ratio is important for financial decision making.Submit your analysis as well as your calculations.