Determine which Adjusting events non-adjusting events for the following statement. Answer 2 3 Statements provide evidence of conditions that existed at the end of the reporting period Your firm has been sued for anti-competitive behavior. This has been denied by your firm, and there was only a contingent liability for $10 million your financial statements on 31st December 2020. On January 1st, 2021, the court awards S10 million damages against your firm. Lozan Co. announce plans to reorganize its group, between the year end, and the date when the financial statements are approved for issue. The plans include the disposal of a major division. Lozano You are informed of a fraud, that shows that financial statements, that you are about to approve to be correct client goes into liquidation between the year end, and the date when the financial statements are approved for issue. The client owes you a large amount of money and your firm will not survive the loss