Smithtown Distributors acquired Paul's Plumbing on January 15,20X8.Violet Flowers acquired Frank's Farm on January 1,20X7.In the 12/31/X7 financial statements filed with the SEC,Smithtown included a Pro Forma disclosure and Violet did not.If both acquisitions account for 100% of the common stock of the company acquired and are considered to be material,then can both filings be considered proper?

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The Answer of Smithtown Distributors acquired Paul's Plumbing on January 15,20X8.Violet Flowers acquired Frank's Farm on January 1,20X7.In the 12/31/X7 financial statements filed with the SEC,Smithtown included a Pro Forma disclosure and Violet did not.If both acquisitions account for 100% of the common stock of the company acquired and are considered to be material,then can both filings be considered proper?

Smithtown Distributors Acquired Paul's Plumbing on January 15,20X8