Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can you please explain why the measurement base is $70,154 and the percentage should be 4% A B C D EARTHNEAR CLOTHIERS Planning Materiality December
Can you please explain why the measurement base is $70,154 and the percentage should be 4%
A B C D EARTHNEAR CLOTHIERS Planning Materiality December 31, 2022 \begin{tabular}{|c|} \hline 37 \\ \hline Initial Here \\ \hline 1/19/23 \\ \hline \end{tabular} (ph thousands) Unaudited \begin{tabular}{lrr} 1. Benchmark Data & 2022 & 2021 \\ \hline Sales / Revenus & $1,019,880 & $960,484 \\ Pretax income & $70,154 & $35,757 \\ Total assets & $369,428 & $329,959 \\ Makerality & & $1,800 \end{tabular} 2. Establish Planning Materiality Level Measurement Base Pre-tax incoma Percentage Applled* 4.0%$206 Bases and Percentage Ranges: Proft Oniented Entities Factors that you considered to determine the appropriate measurement baseStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started