You have been hired as a consultant for Thomas Foods. Thomas Foods was incorporated in 1969. Thomas Foods sells produce purchased from farmers to neighborhood grocery stores throughout the country. Thomas Foods has asked you to implement a hedging strategy to mitigate the risks associated with any unexpected increase in price they would have to pay farmers for their harvested crops. Thomas Foods asks that you provide examples of how various hedging strategies could be implemented. The Controller of the company has no experience in this area and would need to understand the accounting treatment for whichever hedging strategy you select. Of significant importance to management is how any hedging strategy would impact operating income.Required:Using the guidelines above, prepare a comprehensive research memorandum on the case that you chose.Prepare a PowerPoint Presentation communicating your case facts, authoritative literature, recommendations and conclusion. Please use the notes section of the PowerPoint to communicate what you would be communicating orally