Morlan Corporation is preparing its December 31, 2017. inancial statements. Several events that Ecured between December 31, 2017, and March 10, 2018, when the statements were issued, are described below. All amounts are material to the financial statements. 1. An income tax liability, estimated at $160,000 at December 31, 2017, was settled on February 26, 2018, at $170,000. 2. A fire loss of $80,000 occurred on March 1, 2018. 3. A legal claim, estimated at $500,000 (gain) at December 31, 2017, was settled on February 28, 2018, at $250,000. 4. The Company issued 100,000 shares of common stock with $1 par for $2,000,000 cash proceeds On March 2, 2018. 5. The Company received notice of a bankruptcy on March 5, 2018 of one of Its customers that had an accounts receivable balance of $250,000 at December 31, 2017 and $300,000 as of March 5, 2018. No payments had been received in 2018. Indicate the proper accounting for each of these subsequent events and the effect they have on 2017 net income