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Wilma Bates is executive vice president of Mavis Industries Inc. a publicly held industrial corporation. She has just been elected to the city council of Gotham City. Before assuming office she asks you to explain the major differences that exist in accounting and financial reporting for a large city when compared to accounting and reporting for a large industrial corporation.Problems:Address Problems 1 and 2 above based on information provided. If you wish to present calculations to help make your responses more complete show those calculations in a table in your paper. The paper must be a Word document two-to three-pages in length formatted perAPA and writing guidelines.