Scroll down to complete all parts of this task. OEM Inc. manufactures parts for various foreign and domestic vehicles. The auditor obtained the Consolidated Balance Sheet and started the Inventory Worksheet. Based on the information provided in the exhibits, determine the point estimate based on projecting the misstatements using: (1) Mean-per-Unit Estimation, (2) Ratio Estimation, and (3) Difference Estimation. Enter the amount in the associated cells. Use exact numbers while performing the calculation and round the answer to the nearest dollar. A B Method of Projection Point Estimate 2 Mean-per-Unit Estimation 123 round the answer to the nearest dollar. A B 1 Method of Projection Point Estimate 2 Mean-per-Unit Estimation 123 3 Ratio Estimation 123 4 Difference Estimation 123 1 52. 01010 D TIME REMAINING AN- CALC EXCEL AUTH. LIT OVERVI 1 2 Consolidated Balance Sheet Consolidated Balance Sheet OEM Inc. Consolidated Balance Sheet December 31, Year 7 $ $ (in millions) Assets Auditor Iny Cash Receivables, net ...... Inventories, net and started the prepayments and other current assets mine the point Assets held for sale nation, (2) Ratio Total current assets cells. Use exac est dollar. Property, plant, and equipment, net Investments and other long-term receivables Goodwill Other intangible assets, net Other non-current assets Total assets 2.5 9.2 3.5 0.7 0.3 16.2 13.1 2.5 8.6 2.3 2.1 44.7 L ACCEPT Liabilities and Equity Notes payable and other short-term debt Accounts payable and accrued expenses Income taxes payable Liabilities held for sale 0.4 10.4 0.2 0.1 1 2 Consolidated Balance Sheet Asseis med Tor sare Total current assets 16.2 Property, plant, and equipment, net Investments and other long-term receivables Goodwill Other intangible assets, net Other non-current assets Total assets 13.1 2.5 8.6 2.3 2.1 44.7 Auditor Iny $ U. TUUUU Liabilities and Equity and started the Notes payable and other short-term debt mine the point Accounts payable and accrued expenses mation, (2) Ratic Income taxes payable cells. Use exac Liabilities held for sale Test dollar. Total current liabilities 0.4 10.4 0.2 0.1 11.1 + 9.6 Long-term debt 6.5 Other non-current liabilities CEL ACCEPT Capital Stock Retained earnings Accumulated other comprehensive loss Total equity Total liabilities and equity 5.1 14.6 (2.2) 17.5 44.7 3 4 5 Auditor Inventory Worksheet Auditor Inventory Worksheet Prepared by Auditor Note: To test the valuation of inventory, we conducted a sampling of 180 items from a population of 3,200 items. We included the first and last page due to the volume of information. See results below. Sh... M C=AB B Audited heet a detern t Estim iated neare Sample No. Item No. Difference 200 1 2 3 4 5 X12561 A34899 A12234 E87645 E48908 Book Value Value per Client 1,000 1,000 1.200 1.000 800 800 950 950 750 Description Power steering pump Catalytic converter A Catalytic converter Alternator Y Alternator 700 50 PONSE 100 100 CANCEL 175 176 177 178 179 R56784 Supercharger R12987 Supercharger X W87654 Control arms 098764 Brakes 167549 Starter J87389 Wheel hub 1.100 1,000 1,300 1,200 650 650 300 250 400 400 50 tion 180 870 870 Auditor Inventory Worksheet Note: To test the valuation of inventory, we conducted a samping or 180 items from a population of 3,200 items. We included the first and last page due to the volume of information. See results below. . C = A-B Audited 1... Sample No. Difference Item No. Description X12561 Power steering pump A34899 Catalytic converter A A12234 Catalytic converter E87645 Alternator Y E48908 Alternator neet al detern Estim ated neares Book Value Value per Client 1,000 1,000 1.200 1,000 800 800 950 950 750 700 200 2 3 on AWN 50 5 100 100 175 176 177 178 179 1.100 1,300 650 300 400 R56784 Supercharger R12987 Supercharger X W87654 Control arms 098764 Brakes 167549 Starter J87389 Wheel hub 1,000 1,200 650 250 400 50 ONSE 870 CANCEL 180 870 ion 5,000 Total 185,000 180,000
