Interpret financial statements for a small business.“C” is the final letter of the POLC functions of management — Control. Financial control is an important means of controlling overall short-term and long-term success of a business. In your final Assignment concerning financial statements, you will interpret a statement based on given assumptions provided. You will need to use the Unit 10 Assignment Spreadsheet located below.Checklist:Download these two files:Unit 10 Assignment Spreadsheet (Excel® file)Unit 10 Assignment Assumptions (Word doc)Then estimate a P&L statement based on the assumptions A or B.Answer the following questions: Does the firm need to borrow money at the end of the year to meet expenses? Why or why not?Submit your answers to the questions in a Microsoft Word document and your completed estimated P&L spreadsheet to the Dropbox before the end of this unit.