Q2-(25 Marks) Manama Company prepares financial statements for the year ended 31 December 2018. The financial statements are expected to be authorized for issue on 15 March 2019. The events have occurred in January and February 2019: 1- A health and safety investigation of an incident which occurred in 2018 was concluded in January 2019, resulting in a BHD 1,500,000 fine for Manama Company. A provision for BHD 1,000,000 had been recognized in Manama Co's financial statements for the year ended 31 December 2018. 2- A notice was received on 10 January 2019 that a customer owing BHD 1,200,000 at 31 December 2018 had ceased trading. It is unlikely that the debt will be recovered in full. 3- The acquisition of a competitor was finalized on 10 January 2019, being the date Manama Company obtained control over the competitor. Negotiations in respect of the acquisition commenced in May 2018. 4- There is an outstanding court case on 31 December 2018 relating to faulty goods supplied by Manama Company. Legal advice states that there is a small chance that they will have to pay out BHD 6,000,000, but the most likely outcome is believed to be a payout of BHD 5,000,000. Either way, Manama Company will have to pay legal fees of BHD 200,000. All payments are expected to be made on 31 December 2019. Manama Company has a cost of capital of 10% (discount factor 0-909). Manama Co believes the fault lies with the supplier and is pursuing a counter-claim. Legal advice states that it is possible, but not likely, that this action will succeed. 5- In February 20X9, a major fire broke out in Manama Co's property and warehouse. Manama Co has no insurance, and now the management of the company believes it is unable to continue trading. Required: Show how these five events should be reflected in Manama Co's financial statements for the year ended 31 December 2018 in accordance with IAS 102 Justify your