Moana Ltd is a manufacturer of plastic materials for automobile industries. On 15 August 2022, the local cunc cred Moana Ltd over unsafe storage materials that resulted in a leakage of toxic materials into the local river. The leakage has started in 2015 according to the local newspapers which also reported the last leakage on 16 July 2022. f Sound to be negligent by the court, the company will have to pay a fine of $750,000 plus legal and clean-up costs in excess of $225.000 Moana Lid's lawyers indicated that is probable that Moana will have to pay the fine. However, Moana Ltd's management decided to postpone the clean-up process to the end of 2023. Moana Ltd. reports its financial statements on me every year. The 30 June 2022 financial reports were authorised for issue on 26 August 2022 Assume all events and transactions are material Required Question 4 30 pts A. Explain the classification of the event (adjusting or non-adjusting) and the necessary note disclosures with respect to AASB 110/IAS 10. (20 marks) 8. Prepare the relevant journal entries (10 marks) Edit View Insert Format Tools Table 12pt Paragraph BIUA Proctorio is sharing your screen Stop sharing Hide OB E