Frying Nemo, a new fast seafood restaurant business, needed additional funding to open its restaurant. Iona Storr, the CEO, hired Penny Wise, an accountant, to prepare financial projections of anticipated future earnings for the first five $(5)$ years of the new business. The information provided to Penny as the basis for the projections included assumptions made by Iona about anticipated earnings of the business. The assumptions were based on Ionas previous restaurant experience and were not based on objective standards that could be examined by Penny. Penny included with the projections a disclaimer that stated that the income projections were based on assumptions provided by Frying Nemo and that John assumed no personal responsibility for the accuracy of those projections. Based on the financial projections, Rich Feller, a wealthy investor, purchased a thirty percent interest in Frying Nemo, and when Frying Nemos income did not match the projections, Rich sued Penny for accounting malpractice. Based on the facts above:

How will the court decide? Explain your answer according to the Grading Rubric.

Is Penny liable to Frying Nemo? Explain your answer according to the Grading Rubric.

Would your answer be different if Penny negligently misstated the financial projections? Explain your answer according to the Grading Rubric.

Al Dente was at the counter to pay for his food and saw the statement of financial projections laying on the counter and read through it while waiting to pay. Based on the projections he contacted Iona and purchased ten percent of Frying Nemo.Is Penny liable to Al$?$ Explain your answer according to the Grading Rubric.