For each of the following independent situations, determine whether it's a type 1 or type Il subsequent event AND whether the year-end financial statements need to be adjusted. Choose... . The purchase of another business to expand the company's geographic location occurred 1 month after year-end. 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 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.. Choose... 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 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 1 - adjustment required Type 1 - no adjustment Type 2 - adjustment required Type 2 - no adjustment For each of the following independent situations, determine whether it's a type 1 or type Il subsequent event AND whether the year-end financial statements need to be adjusted. Choose... . The purchase of another business to expand the company's geographic location occurred 1 month after year-end. 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 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.. Choose... 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 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 1 - adjustment required Type 1 - no adjustment Type 2 - adjustment required Type 2 - no adjustment