I have to write a busienss memorandum to Ms. Ramos (CEO of the company, who has minimum experience in accounting).<br /><br />here is basic instructions: your basic mission will be to generate brief, tactful memorandum-format response to Ms. Ramos about her assumption that 2012 income is correct, keeping in mind that she is not an accounting specialist. Generate atactful response to Ms. Ramos explaining to her why she is incorrect. <br /><br />Assignment's fact: You are the controller of Small Toys, Inc. Denise Ramos, the president, recently mentioned to you that she found an error in the 2011 financial statements which she believes has corrected itself. She determined, in discussions with the Purchasing Department, that the 2011 ending inventory was overstated by $1 million. Denise says that the 2012 ending inventory is correct. Thus, she assumes that 2012 income is correct. Denise says to you, "What happened has happened-there's no point in worrying about it anymore.<br /><br />Ms. Ramos ascended to Small Toy's presidency by coming up through the company's sales division (salesperson to sales supervisor to vice-president of sales to president). She ahs limited knowledge of accounting terminology and priciples.<br /><br /><br /><br />Please look at Grammar. I need to turn in free grammar paper.<br /><br />Thank you.