The following events took place for ONL 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 ONL should adjust the financial statements, disclose the event only in the notes to the financial statements, or neither adjust nor disclose. (a) (b) (c) One of ONL's customers declared bankruptcy on April 4. The customer owed ONL $1.200, which ONL had already included in its Allowance for Doubtful Accounts. There was a fire in one of ONL's three factories on April 7. The factory was completely destroyed. Insurance is estimated to cover approximately half of the loss. On April 15, one of ONL's major customers signed a contract to purchase product from one of ONL's competitors. On April 16, a judge ruled on a lawsuit filed against ONL two years previously by one of ONL's customers. Unfortunately for ONL, the judge surprisingly ruled in favour of the customer, and ordered ONL to pay damages. On April 20, ONL completed negotiations with CTR Ltd. to merge the operations of the two companies together. (d) (e)