The following events occurred after the end of the fiscal year but before the auditor issued a report. Which event would not require disclosure in the financial statements?

a. Sale of a bond or issuance of capital stock.

b. Loss of plant or inventories from a fire or flood.

c. A major decline in the trade price of the corporation's common shares.

d. Settlement of litigation when the event giving rise to the claim took place after the balance sheet date.

Choose the correct answer.