When preparing its financial statements for Year 5, London Ltd. correctly recorded a provision on an onerous contract. At this date, the expected loss from fulfilling the contract was $75,000, while the cancellation penalty was $90,000. London took partial delivery on this contract the next year. At the end of Year 6, the expected loss from fulfilling the contract was $27,000, while the cancellation penalty was $13,000. London reports under IFRS. Which one of the following represents the total adjustment that London will record in its Year 6 financial statements? Question 3 options: a) Decrease the provision by $62,000 b) Decrease the provision by $48,000 c) Increase the provision by $13,000 d) Increase the provision by $14,000