Submit a draft proposal for Sections II and III (see below). Provide financial statement analysis, profitability ratios, and ratio analysis to support the capital budgetproposal formulated in Milestone Three. You must also use financial calculations to support proposal recommendations and to explain the short- and long-termfinancial impact for the organization.Specifically the following critical elements must be addressed:II. Financial and Budgetary ConsiderationsA. Financial Statements: What financial statements will you utilize in making your proposal, and how will you use these statements?B. Proposal Impact: What impact will your proposal have on the organization’s financial statements? Articulate the impact using appropriateterminology.C. Flexed Versus Fixed: How would your proposal be different if using a flexed budget versus a fixed budget? In other words, how would the use ofone type of budget versus the other impact your proposal, and how would your proposal impact the budget? (Evaluate the differences betweena fixed and a flexed budget.)III. Proposal JustificationA. Ratio Selection: What ratios will you use to support your proposal and why? Select the ratio or ratios that would be the most appropriate.B. Ratio Results: Calculate the selected ratios and articulate the results using accurate terminology. What do the results tell you about the viabilityof your proposal?C. Short- and Long-Term Impact: Based on your calculations and financial statement analysis, determine the short-term and long-term impact onthe organization and the organization’s financials. What is the short-term and long-term financial impact of your proposal for the organization?How can you plan to strategically mitigate the impact on the financials of the company, or how will your proposal help inform strategic planningin the short and long term?Guidelines for Submission: Your paper must be submitted as a Microsoft Word document and should be a minimum of two pages in length with double spacing,12-point Times New Roman font, one-inch margins, and at least two sources cited in APA format.This term paper is about the insurance company Atena. This paper needs information about financial statement analysis, profitability ratios, and ratio analysis to support the capital budget .Here is feedback from my professor on which my last grade was only 75/100. Jessica, your Milestone Three did not fully meet the objectives for this assignment. You were to surface opportunities that exist at your selected organization and define a specific proposal. I think you had some general thoughts but you are going to need to further define specific goals and determine actionable steps to achieve those goals. As we move into the critical parts of this proposal you are going to need to be prepared to provide metrics to demonstrate the impact of your proposal on the budget. You will be discussing how to finance your proposal and define in numbers the short term, intermediate term, and long-term impact on the financials with your proposal. Of course, you will need to have some projected costs and some thoughts about return on investment and timing, etc.Please remember that this assignment is to be a proposal that you will defend with respect to value added and specific financial impacts to the organization. You are to write from the perspective of a manager in your organization that is pitching a proposal to the CEO and budgetary board of your organization.Jessica, you may want to consider as you move into Milestone Four that you can submit a full draft of your entire project so you can obtain feedback that can be incorporated into the Final Project in Week Seven. If so, please consider submitting the material that covers Introduction and Background; Major Forces; Impact of Forces on XXX; Opportunities; Proposal; Financial Statements; Proposal Impact; Flexed Versus Fixed Budget Options; Ratio Selection; Ratio Results; Short-Term and Long-Term Impact; etc. Of course, it is always appropriate to split material into more sections if you choose to (for example, a section for Short-Term and a different section for Long-Term Impact would not be a stretch). Milestone Four will be graded with that specific rubric but adding the additional material may help you be sure you are covering all the bases before you submit your final project.In the meantime, you will want to be sure to review the final project assignment and grading rubric to be sure you understand what will be required for that major assignment. Also, review all feedback from prior milestones. There will also be additional resources posted in the discussion threads regarding financial ratios and financial statements.