Question 3 You are auditing Woolworths Ltd - the supermarket and retail chain. Determine the appropriate base for materiality and then calculate the planning materiality for the client. Your audit firm has given you the following percentages to use when calculating materiality. Revenue - 0.5% Net profit - 5% Total assets - 0.5% Total equity - 2% Choose the most appropriate base and then calculate materiality for the 2019 audit (not the 2021 audit). Enter your answer in whole dollars only. Do not use $ or ";" 2019 ($m) 2018 ($m) 29,907,000 30,857,000 Woolworths Ltd Total revenue Net profit Total assets Total equity 1,0210 1,011 24,889,000 11,264,000 23,783,000 10,360,000