You are a part of the team responsible for planning the audit engagement for Nick Scali Limited (ASX code NCK), a furniture importer and retailer, in 2022. You are required to gather relevant background information and prepare a report for a meeting with your audit seniors. Assume that this is the first time your firm will audit this client. Required: Your report must address the following issues: (i) Calculate at least three ratios that are useful to assess going concern status of NCK. You must document the ratios in a format similar to the following: Ratio 2021 2020 2019 2018 2017 (i) (ii) (iii) Based on your calculations, you must assess the likelihood (high, medium, low) that NCK is likely to fail financially in the next 12 months. Your discussion must be supported by an appropriate data visualisation technique (e.g., graph). (12 marks) (550 words) (ii) Identify an appropriate base and set planning materiality for NCK. Explain why you have chosen this base and the percentage you have used. (6 marks) (300 words) (iii) (iv) Based on your risk analysis and understanding of NCK and its environment (obtained in assignment 1 and in above questions), list and explain two key accounts that could be at risk of material misstatement. You must identify the key assertion at risk for each identified account. (8 marks) (350 words) Lately NCK acquired sofa merchant Plush Think-Sofas (Plush) from Greenlit Brands Pty Ltd for $110 million. How will this acquisition affect your 2022 audit plan for NCK? Your answer must be supported by at least four factors. (4 marks) 1200 ndal