I. apply the learning outcomes for the week/course and lecture concepts to a business organization that exhibits and demonstrates these concepts. You should develop a summary of the organizations strategy and how they use these concepts to compete. This is a learning and application exercise designed to give you an opportunity to apply concepts learned in a pragmatic and meaningful way that will enable you to gain valuable and relevant knowledge in an effort to augment your skill set and enhance your professional careers. II. Explain the difference between public accounting and managerial accounting, provide in-text citations. Provide a hypothetical example of income statement for public reporting. Provide a hypothetical example of managerial accounting income statement in process costing format. Explain your examples in detail.