Given the following four subsequent events (unrelated) for the December 31, 2019 year-end:

1. On January 15, 2020, a major customer declared bankruptcy.(3 marks)
2. On January 25, 2020 a fire destroyed a major suppliers building that warehouses inventory . (3 marks)
3. On January 4^, 2020, an investment analyst downgraded the stock of the auditee. (3 marks)

The audit report date is February 15, 2020.

Required:

State clearly the type of subsequent event (Type I or Type II), if any, and the required impact on the financial statements.