OverviewIn this assignment, you will prepare a two to three-page report that addresses the requirements specified in the Cloud 9 case. Include your calculations as part of your analysis and fully explain the results. Also, include a minimum of two current references to scholarly and/or authoritative sources.Your report must address all of the following:Address the overall understanding of the retail and wholesale industries and identify areas that impact financial reporting.Analyze Cloud 9’s financial position and its business risks. Include ratios supporting the business analysis.Identify areas requiring special emphasis during the audit and potential problem areas.Address materiality in your response.Use at least two current, quality academic or authoritative sources in this assignment. Note: Wikipedia and similar websites do not qualify as quality scholarly and/or authoritative sources.See attached the Cloud 9 Case. And I also attached the Guide to Case Analysis from McGraw-Hill for additional guidance on how the paper should be.