A plaintiff may elect to bring a lawsuit against auditors under applicable statutes$-$including the Securities Act of $1933$ and the Securities Exchange Act of $1934-$and under common law. For each circumstance, indicate the most likely source of CPA liability by placing the appropriate letter in the third column.

Circumstance Source of Liability

$1.$ A CPA's client is filing suit for negligence in performing an audit.

$2.$ A stockholder of a publicly$-$held company who purchased the stock from another investor is filing suit for losses sustained on the stock.

$3.$ A bank that lent money to a company is filing suit for misleading financial statements that were audited by the CPA.

$4.$ An investor is filing suit for losses sustained in the purchase of publicly$-$traded bonds that were bought from the company upon initial registration.

$5.$ A stockholder who purchased stock of a public company in an initial public offering is filing a suit for losses sustained in the purchase of the stock.

$6.$ A CPA's client is filing suit for losses sustained for errors in a tax return prepared by the CPA.

$7.$ A supplier who extended credit to the CPA's publicly$-$held client is filing suit for losses sustained when the client could not pay the account.

$8.$ An investor who purchased a corporate bond from another investor on the New York Stock Exchange is filing suit to recover losses.