Sunny Studios goes bankrupt! - How to cancel a project in Game Dev Story

I've reached the point in Game Dev Story that I'm just beginning work on my first console! However, after a few months developing, I see that I've made a grave mistake... I'm a few $100k short of meeting payroll come the end of March. Unfortunately reloading an early save isn't an option as my manual save is a few months into development. I tried boosting through development, but I just can't boost fast enough. At this point my only option, as far as I can see, is to cancel the project. However, I can't quite see how to do this.

How do I cancel a project in progress?

EDIT: The below instructions are for games. It is not possible to cancel a console.

Tap the bar with the stats. You are shown a screen with two option "Ship" which will not work at this point (only works for games in the debugging stage) and "Cancel". Tap the Cancel option.