Prepaids Audit prepaids, but don't spend too much time on iem. There just isn't a lot of exposure there. Because the amounts are not signicant, let \"the Crumpler" do most of the legwork [vouching invoices, examining cancelled checks, examining titles, etc.) for you on prepaids and fixed assets. [in second thought, insurance expense looks really low compared to last year's better check it out. Either Assets Since I know that your hands have been full, I tried to help out with other assets. With the information below, I think you can complete the Investments and other assets sections [1-1]: 1. By luck, ShockProof Socks is one of our rm's clients. I checked with Dave Masterson, the audit manager, about how the company is doing. He said that after reporting no income for several years, they struck gold in 2014, reporting total income of $3,13,l.3. The company has yet to pay out any dividends though. 2. 'When I had lunch with Eric Unum, we discussed Apollo's recent purchase of Synergizer Battery stock. He indicated that Larry eventually wanted to purchase controliing stock in the company when Apollo started moving production inhouse. 'While in his office, I examined the broker's conrmation, the cancelled check {it 3532), and examined the stock certificate for 2D,[i shares inApoilo's name. The price of the stock was unchanged as of December 31 from its purchase price of $16.13. Personally, Iwould be surprised if Apollo will ever be able to purchase even 5% of Synergizer's stock. 3. You may want to think about the Phoneshoe patent, since the company has decided to discontinue research and development efforts on it. 4. Invesbnent income is composed of the equity earning in ShockProof Socks and a transfer from the Controller's Clearing Account for $333,3T5.BD. The clearing account is a temporary account Apollo uses for out of balance items and transactions they can't identify. If there is a balance at the end of the year, they either recognize miscellaneous income or expense to clear it out. The amount is the same amount as the December 26 purchase of the investment in Synergixer. You should investigate this further. 5. Do some analytic procedures on interest income to make sure that it is reasonable with respect to the interest rate on the bank conrmation and compared to last year