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Eugene Company is a small bakery manufacturer that supplies bakeries to supermarkets throughout Australia. Eugene also operates a berry farm to supply part of the

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Eugene Company is a small bakery manufacturer that supplies bakeries to supermarkets throughout Australia. Eugene also operates a berry farm to supply part of the bakery. Eugene's financial report (ending 30th June 2023) is planned to be approved on 8th August 2023. The financial report will be disclosed to shareholders on 23rd August 2023, after the audit report is to be signed on 15th August 2023. After performing the procedures to identify subsequent events, you found the following events. (i) On 9th July 2023 , there was an incident report from the berry farm at Eugene. One of employees died during the night because of a car accident in the berry farm. (ii) On 23rd July 2023, Eugene's major flour supplier reported contamination in a production process. The subsequent investigation for a cause of the problem and to fix the problem would require at least four months. While Eugene has other flour suppliers, Eugene would likely have to operate at 40 per cent capacity during the following four months. (iii) On 29th July 2023, there was a fire outbreak at Eugene's warehouse. Fortunately, the sprinklers came on, which limited the damage caused by the fire. There was still some material loss of uninsured long-term assets, but the management made no adjustment to property, plant and equipment values for the financial year ended 30th June 2023. (iv) On 1st August 2023, a large supermarket chain that ordered mant bakeries from Eugene went into liquidation. One of the Big-4 audit firms was appointed as an administrator and in its summary report to creditors it notes an average return to creditors of about 15 per cent. onsider the above events independently. Identify the type of subsequent event for ach situation and how each situation would impact Eugene's financial reports for le year ended 30th June 2023

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