$1.$ Jason, senior accountant at SM Partners, LLP$,$ is auditing the Year $2$ financial statements for Top Firmware Corp., a nonissuer, and he is currently in the planning stage. Top Firmware Corp. sales historically occur evenly throughout the year. Jacob expects a low likelihood of uncorrected and undetected misstatements.

SM Partner$$s materiality guidelines are as follows:

$$ Overall financial statement materiality should be based on either total assets or gross annualized revenue, whichever is larger, and should be calculated by taking the appropriate benchmark and multiplying it by either $1\mathrm{.}5$ percent if the benchmark is assets, or $1$ percent if the benchmark is gross revenue.

$$ Performance materiality is calculated by multiplying overall materiality by either $80$ percent $($for low likelihood of uncorrected and undetected misstatements$)$ or $60$ percent $($for high likelihood of uncorrected and undetected misstatements$).$

Selected interim financial information from Top Firmware Corp.:

For the period of $01/01/$Year $206/30/$Year $2$:

Revenue $$2,100,000$

Gross profit $$600,000$

As of $06/30/$Year $2$:

Total assets $$2,000,000$

Stockholders$$ equity $$1,250,000$

Based on the information above, calculate overall financial statement materiality and performance materiality. Be sure to show your work.

Can you help, I saw multiple answers here with different asnwers?