On November 7, 2014 local residents sued Brimley Corporation for excess chemical emissions that caused some of them to seek medical attention. The total lawsuit is $8,000,000. Brimley Corporation's lawyers believe that the lawsuit will be successful and that the amount to be paid to the residents will be $4,000,000. On its December 31, 2014 financial statements Brimley should: Multiple Choice Accrue a provision loss of $8,000,000 with no financial statement disclosure necessary. Accrue a provision loss of $4,000,000 and note disclose. Do nothing as the lawsuit has not yet ended. Simply disclose the details regarding the lawsuit in a note.