Maci is preparing the income statement for her company. Jon is preparing a report that needs to be filed with one of the government agencies the company reports to$.$ What is implied here?

Jon is preparing a formal financial statement, while Maci is engaged in financial reporting.

Both Jon and Maci are preparing formal financial statements.

Both Maci and Jon are engaged in financial reporting.

Maci is preparing a formal financial statement, while Jon is engaged in financial reporting.