For each of the following material events after the reporting period, state whether adjustment or disclosure is required in the 30 June 2023 statements. If adjustment is required, state the nature of the adjustment on the financial statements.

a. 2 July 2023: directors proposed a dividend of $10000.

b. 3 July 2023: the executive directors approved the sale of an offshore agency to another entity for a profit of $30 000.

c. 4 July 2023: the company received an invoice from a supplier for $85 000 for goods delivered in June; the goods were included in closing inventory at an estimated cost of $100 000.

d. 5 July 2023: the company executed a guarantee in favour of the banks for an outstanding loan of $1 million that the bank made to X Ltd, the company’s major supplier, in January of that year; the guarantee was executed because the bank was demanding payment, which would have disrupted inventory supplies.

e. 6 July 2023: an agreement was signed to take over a production facility in Adelaide at a cost of $5 million, which will be paid for using a long-term finance lease.

f. 7 July 2023: the Australian Taxation Office (ATO) waived fines for the inclusion of incorrect information in the company’s 2021 tax return; the adjusted tax return was reflected in the company’s financial statements and the fine of $30 000 was recognised as an expense and liability at the end of the reporting period.

g. 8 July 2023: the government announced an increase in tax rates from 30 per cent to 33 per cent for the year commencing 1 July 2023; the deferred tax asset account is $90 000 and the deferred tax liability account is $60 000.

h. 9 July 2023: the Remuneration Committee determined the CEO’s bonus for the year ended 30 June 2023 as $300 000; the manager is entitled to an annual bonus based on company profits as determined by the Remuneration Committee. No accrual has been made.