Jane Johnson, is the Controller for a company that has recently become publicly traded, RonJohn Sports. RonJohn Sports has retail sports stores, a thriving on line business, a line of surf boards and swim/beach clothes. RonJohn Sports management reviews performance in according to the four business segments listed above. The CEO, Ron John read the news article printed below and, after reviewing his company's annual report, makes the following statement to you. Why do we disclose all of this information don't you see (referring to the article that investors don't want all this information? Ron says "I don't know why investors can't just receive an income statement and balance sheet and skip the other pages of disclosure?" Mr. John goes on further "I also don't like disclosing all the information about our business segments, why don't we just break the segments into North, South, East and West?" a. Respond to Mr. John's comments with reference to the full-disclosure requirements under US GAAP and the rationale for the disclosure requirements. Also, refer to FASB's and SEC's recent statements regarding disclosure (referenced in the article and links provided), and explain the likely direction of future disclosure. b. Respond to Mr. John's comment regarding the segment reporting. Be sure to discuss the disclosure requirements and rationale for segment reporting