PART 1: Using Morgan Stanley and Goldman Sachs compare and contrast the MD&A components of the published SEC reports for the current year and the prior two years. Identify five components of the MD&A of the current year that appears in both SEC annual reports for each company. Also identify five components of the MD&A of each company that are clearly different. Evaluate the trends of the MD&A over the past three years.

PART 2: After completing part 1 analyze the legal issues and arguments that the U.S. Supreme Court will address in its decision for the Leidos case. Using the MD&A for Morgan Stanly and Goldman Sacs illustrate how the U.S. Supreme Court case could be argued by both parties to the case.

PART 3: Draft a prediction for the outcome of the case and Morgan Stanley and Golman Sachs explain how you arrived at your prediction.