Ethics Case – Al-Sadd Food Company is a small traded

Ethics CaseAl-Sadd Food Company is a small traded company in Doha. The Company pays annual bonuses based on a percentage of net income. Waleed, the controller of Al-Sadd Food Company, has noticed that the Company holds equity securities in a variety of companies that were purchased as strategic investments. A few of these securities are currently valued above cost, but most are valued below cost at the present time. Waleed suggests to the one of his accountant staff, that they should treat the securities with unrealized gains as trading securities and those with unrealized losses should be treated differently-with the unrealized losses being reported in other comprehensive income.Required:Write about this experience taking in account the following considerations;1. Will Waleed’s suggestion, improve the company’s net income? How. (2marks)2. Is there anything unethical about waleed’s suggestion? If so, explain. (2 mark)3. What the Qualitative Characteristic of Financial Reporting Information will be ignored by following Waleed’s suggestion? And why? (2 marks)4. Who are the stakeholders that would be affected by this decision? (2 marks)5. What are your recommendations. (1 mark)6. Good formatting (1 mark)Notes:Please note that the writing should be in essay style (short introduction, discussion and short conclusion). Use Times New roman with font size 12. Title page should be included (name and student identity number)