David Lemay is the chief executive officer of Brenna Electronics
David Lemay is the chief executive officer of Brenna Electronics. Lemay is an expert engineer but a novice in accounting. Lemay asks you, as an accounting student, to explain (a) the bases for comparison in analyzing Brenna’s financial statements and (b) the limitations, if any, in financial statement analysis.
Instructions
Write a memo to David Lemay that explains the basis for comparison and the factors affecting quality of earnings.

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