E24-2 (Post-Balance-Sheet Events) For each of the following subsequent (post-balance-sheet) events, indicate whether a company should (a) adjust the financial statements, (b) disclose in notes to the financial statements, or (c) neither adjust nor disclose. ______ 1. Settlement of federal tax case at a cost considerably in excess of the amount expected at year-end. ______ 2. Introduction of a new product line. ______ 3. Loss of assembly plant due to fire. ______ 4. Sale of a significant portion of the companys assets. ______ 5. Retirement of the company president. ______ 6. Issuance of a significant number of shares of common stock. ______ 7. Loss of a significant customer. ______ 8. Prolonged employee strike. ______ 9. Material loss on a year-end receivable because of a customers bankruptcy. ______ 10. Hiring of a new president. ______ 11. Settlement of prior years litigation against the company. ______ 12. Merger with another company of comparable size