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In this assignment, you will be performing some financialstatement analyses on a publicly traded company: Telus. You arerequired to follow the steps outlined below and produce a report inthe form of an executive summary, which should be no more than twopages long. The report should stand on its own, so you must includean Excel spreadsheet where all the calculations are availablerather than just the answers, but only as a reference tool for thetext submitted in a pdf document. So you should have 1 pdf fileplus 1 Excel file for your submission. There are 100 marksavailable for this assignment. See the steps below for markdistribution. Make sure to clearly explain your work so that yourOpen Learning Faculty Member can give feedback. You may get partialmarks, even if your final answer is incorrect. Instructions Step 1:Download the 2019 Annual Report from the company’s website. Sincesome companies issue financials in both Canadian and US dollarsfollowing different accounting rules (e.g., IFRS vs. US-GAAP), makesure to download the statements using Canadian dollars. Transferthe company’s consolidated balance sheets and consolidatedstatements of operations (i.e., income statement) into an Excelworkbook. Note that the annual is a bit tough to read, especiallyif you haven't taken an accounting course in a while. You can findthe numbers that you need in the consolidated financial statementsstarting on page 124. Step 2: Calculate the following ratios forthe past 2 fiscal years. You must clearly show the calculations inyour spreadsheet and should not download pre-calculated ratios fromanother source. (25 marks) • Current ratio • Quick ratio •Inventory turnover • Days of inventory on hand • Accountsreceivable turnover • Average collection period • Asset turnover •Gross profit margin • Net profit margin • Total debt ratio • Returnon assets • Return on equity • Interest coverage ratio Step 3:Perform a 3-stage DuPont analysis. Note that this needs appropriateanalysis, not just a calculation. (15 marks) Step 4: Comment on anyareas of strength or weakness of the company, based on your resultsof Steps 2 and 3 above. Make sure to look, not just at absolutelevels, but also trends over time in solvency, liquidity,profitability, and asset management ratios (20 marks). Step 5:Compare your results with the management discussion and analysis inthe annual report. Examine any differences between their commentsand your analysis. You will be assessed on correct use of financialstatement analysis tools from the course material, providingthoughtful analysis that draws on the theories discussed in thecourse as well as links to what is happening with Telus in thecurrent market. (20 marks) Step 6: Explain whether there would beany difference to your analysis if you were an investor or if youwere the CFO. How would the data quality differ in those two roles?(20 marks)