For each of the following independent situations, determine whether its a type I or type II subsequent event AND whether the year-end financial statements need to be adjusted.

An amount received in respect of an insurance claim for a fire that destroyed the manufacturing building that was in the course of negotiation as at year-end, was significantly different than anticipated.	Choose... Type 2 - no adjustment Type 1 - adjustment required Type 2 - adjustment required Type 1 - no adjustment
the bankruptcy of a customer subsequent to year-end, which would be considered when evaluating the adequacy of the provision for uncollectable trade receivables. The customer is NOT a significant client to the company.	Choose... Type 2 - no adjustment Type 1 - adjustment required Type 2 - adjustment required Type 1 - no adjustment
Deterioration in operating results and financial position after year-end that is so significant that it may indicate the going concern assumption is not appropriate to use in the preparation of the financial statements.	Choose... Type 2 - no adjustment Type 1 - adjustment required Type 2 - adjustment required Type 1 - no adjustment
The issuance of $1,000,000 of $2 cumulative preferred shares occurred after year-end but before the end of the audit engagement.	Choose... Type 2 - no adjustment Type 1 - adjustment required Type 2 - adjustment required Type 1 - no adjustment t
The purchase of another business to expand the companys geographic location occurred 1 month after year-end.	Choose... Type 2 - no adjustment Type 1 - adjustment required Type 2 - adjustment required Type 1 - no adjustment