Each of the following events occurred after the reporting date of 31 March 2020, but before the financial statements were authorized for issue. (a) Destruction of a major production plant by a fire in April 2020.- (b) A final dividend is proposed on 30 March 2020 to the shareholders. Subsequently, the dividends were declared on 19 April 2020 and payable on 30 April 2020. (c) On April 10, 2020, the credit department discovered that a major customer owing $2 million has gone into liquidation. (d) A public announcement in April 2020 of a formal plan to discontinue an operation which had been approved by the board in February 2020.- (e) In May 2020, a new model came out which rendered the inventory of the previous model (held by end of 31 March 2020) obsolete. In an effort to sell the remaining stock of the previous model, the selling price was reduced to 50% below cost. Required: According to IAS 10 Events After the Reporting Period, e 1. Determine, for each of the above events, whether they would be treated as an adjusting or non- adjusting event. No explanations are required. 2. Explain how adjusting and non-adjusting events should be accounted for in the financial statements. No calculations and journal entries are required