XYZ Company (a New York based company) has inventory sitting in a public warehouse in California. XYZ Company's auditor (Ernst & Young) needs to decide whether to send a contirmation to the publie warehouse or place an E&Y senior auditor on a plane to California to physically examine the inventory, Would Emst & Young be more likely to send a confirmation or send the senior auditor to California if the E&Y sets acceptable audit risk at medium, inherent risk at high, and control risk at high for inventory of XYZ Company? Explain your answer 2. Using the audit risk model with values of high, medium and low, explain a situation where an auditor is most likely to perform only analytical procedures as substantive tests (i.e., no substantive test of transactions or tests of details of balances). Provide the values for each element of the audit risk model and explain, in a few sentences, why this is the case. In a current file of the working papers, an auditor will have a working trial balance, lead schedules, and supporting schedules. A company has a balance of $5,700,000 for receivables on the working trial balance. Explain what would be included on a lead schedule and supporting Please be specific