The image is inserted with an all around box shadow and corner radius if required.
The bottom drop shadow is created using a negative spread radius so that its height can be adjusted.
NOTE: Since the value for the bottom shadow is negative, increasing it will decrease the height of the shadow and vice versa.
Choose the image, enter alt text for SEO and adjust the width and height using the drag handles or the Metrics inspector.
Make the widget height a little more than necessary so that the drop shdow can be seen while adjusting it.
Set the box shadow radius and color.
Set the drop shadow height and color and the image corner radius if required.