The following events took place for London Company after the company's fiscal year-end, but before the company's financial statements were released to the public. For each event, indicate whether London Company should: (1) adjust the financial statements, (2) disclose the event in the notes to the financial statements or (3) neither adjust nor disclose Question 46 options: On April 16th, one of London's major customers signed a contract to purchase product from one of London's competitors One of London's customers declared bankruptcy on April 2nd. The customer owed $800, which London has already included in its allowance for doubtful accounts. There was a fire in one of London's three factories on March 31st. The factory was completely destroyed. Insurance is estimated to cover approximately one-half of the loss On April 19th, London completed negotiations with Houston Ltd. to merge the operations of the two companies together. On March 30th, a judge ruled on a lawsuit filed against London two years previously by one of London's customers. Unfortunately for London, the surprisingly ruled in favour of the customer, and ordered London to pay damages