A corporation discovered the following information subsequent to the 2019 balance sheet date, but prior to its release:

I. The corporation will be able to sell $30,000 common shares as originally planned.

II. There has been a decline in the stock price of company.

III. A customer filed for bankruptcy and will not be able to pay the debt owed to the company.

IV. Due to an electrical shortage in 2019, the estimated useful life of a piece of equipment was reduced by four years.

How many of the above items must be recorded in the 2019 financial statements?

Question 28 options:

Two of the items

Four of the items

Three of the items

One of the items