Assume that an auditor is expressing an opinion on Rose Ltd's financial report for the year ended 30 September 20X3, and that the audit opinion to accompany the financial report is now being prepared. In each item a 'subsequent event' is described. This event was disclosed to the auditor either in connection with the review of subsequent events or after the completion of field work. A large account receivable from Chan Industries (material to financial report presentation) was considered fully collectible at 30 September 20X3. Chan suffered a plant explosion on 25 October 20X3. Since Chan was uninsured, it is unlikely that the account will be paid. The court ruled in favor of the company on 25 October 20X3 concerning deductions claimed on the 20X1 and 20X2 tax returns. Rose Ltd had provided in accrued taxes payable for the full amount of the potential disallowances. The Commissioner of Taxation will not appeal the court's ruling. Rose Ltd's manufacturing division, whose assets constituted 75% of Rose Ltd's total assets at 30 September 20X3, was sold on 1 November 20X3. The new owner assumed the indebtedness associated with property. On 15 October 20X3, a major investment advisor issued a pessimistic report on Rose Ltd's long-term prospects. The market price for Rose Ltd's ordinary shares subsequently declined by 50%. At its 5 October 20X3 meeting Rose Ltd's board of directors voted to double the adverting budget for the coming year and authorized a change in advertising agencies. Required: You are to indicate in each case the required disclosure of this event in the financial report. Each of the 5 cases is independent and is to be considered separately