You and three friends have just started a company called “Hot Stuf” that produces hot sauce. You intend to sell your product through grocery stores and on the Internet. Before you begin hiring employees, you believe that the company needs mission, vision, and values statements. Prepare these statements for the company and provide the logic behind the statements.As the new controller of your company, you have been asked by the company president to comment on any deficiencies of the firm. After saying you believe that the firm needs long run performance measurements, the president says that the long run is really just a series of short runs. He says that if you do a good job of evaluating these short run performances, that the long run will take care of itself. He sees that you are unconvinced and agrees to keep an open mind if you can make a good case for measuring and evaluating long run performance. He suggests that you prepare a report stating your case.