Ensign Corporation is a manufacturing firm with ten domestic plants. Increased demand for the company's products and a near full capacity production have caused management to decide to build a new plant. The plant expansion is to be financed by a public issue of \(\$ 10,000,000\) of long-term bonds. Before the issue can be sold to the public, a registration statement will have to be filed with the Securities and Exchange Commission using a Form S-1. Ensign Corporation's financial statements have been certified by the corporation's independent accountants for many years.

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a. Several parties are involved in t.e preparation, filing and approval of the registration statement. Briefly indicate the responsibility of (1) Ensign Corporation management, (2) Ensign's independent accountants, and (3) the Securities and Exchange Commission in this procedure.

b. Indicate the general types of financial information and statistical data that would be disclosed in the schedules and reports included in the registration statement and the time period(s) to which this information and data must refer.