Quality Fench Financial ForecastQuality Fench Financial ForecastFinancial Plan (First Draft)As part of your business plan you will develop a pro-forma financial model (5 years) for your business. For this week complete the following:1. A list of key assumptions that drive your financial model. It is strongly encouraged that you find comparable companies and use industry ratios to justify your assumptions. 2. Year 1: Monthly and year-end income statements and cash flows; year-end balance sheet. Note: Use a spreadsheet program such as Excel to construct this information. Be sure to include a separate sheet for your key assumptions.