Question 36 1 points Saxon Ltd is in the process of completing their financial reports for the period ended 31 December 2019 when a new law was enacted, dated 8 February 2020 that company income tax rates a to be increased by 2.5%. The financial statements are then authorised for issue on 3 March 2020. What treatment is required by AASB 110 Events after the Reporting Period to account for the change in the income tax rate in the financial statements for the year ended 31 December 2019? An adjustment to the statement of comprehensive income should be made, but only note disclosure for the statement of financial position since it is prepared as at the reporting date. If material, the financial statements should be adjusted to reflect the impact of the event The potential effect on the accounts should be disclosed in the notes to the financial statements No disclosure is required because the information is publicly available Question 36 of 50 Moving to another question will save this response. RE 0 & 7 % 5. 8 6