draft a memo to your client Michael Hopkins, the CEO of Canyon Incorporated, explaining various filings required by the Securities and Exchange Commission $($SEC$).$ Review the attached "Memo Template" for suggested formatting.

Assume Canyon Incorporated is a beverage manufacturer and competes with PepsiCo and Coca$-$Cola.

Mr$.$ Hopkins would like information regarding the filings required by the SEC for public companies. He is seeking clarification of the purpose of the Forms $10-$Q$,10-$K$,$ and $8-$K$.$ Within the Form $10-$Q$,$ Mr$.$ Hopkins desires to understand the requirements for Part I, items $1-3.$ What type of information is required to be provided for each item? Why is this information important to users of the financial statements? Also, he wants more information regarding the requirements for Form $10-$K Part II$,$ items $7,7$A$,$ and $8,$ and how these items differ from those presented in Form $10-$Q$.$ Emphasize how both forms are used for decision$-$making. Discuss the information provided in Form $8-$K and why this information is required by the SEC.

Also, Mr$.$ Hopkins wants to learn more about how Canyon Inc.$\text{'}$s competitors report and disclose earnings per share $($EPS$)$ in the Form $10-$K$.$ Review the Form $10-$K for either PepsiCo or Coca$-$Cola. Locate the EPS value on the income statement and review the corresponding notes to the financial statements. Does the information contained in the notes to the financial statements match the information reported on the income statement? If so$,$ what types of source documentation do you think PepsiCo or Coca$-$Cola used to calculate EPS and to create the note? How can a company ensure the source data are accurate? If the data are not accurate, what could be the explanation as to why there is a discrepancy? How or why you think this discrepancy was allowed to be reported on the income statement and the notes to the financial statements.