1: Which of the following is the most correct statement?

A: Proponents of market efficiency argue that in its strong form, all publically available information is in the share price and therefore there can be no gains from analyzing historical financial statements

B: Jane Ou in her paper, the information Content of Nonearnings Accounting Numbers As Earnings Predictors, argues a case for analysis of financial statements

C: Both are equally correct in certain circumstances.

2: Give your reason for your choice.

Explain your answer in the context of an efficient market and the role of an analyst.