$Overall Audit Materiality $(1\%$ of Total Assets rounded down to the nearest $$1,000)$$$11,500=10\%$ of ML; For the Balance Sheet and Income Statement A signficant difference is a dollar difference greater than $$11,000(+/-)$ AND $+/-10\%$ change from the prior year $($must meet both criteria$).$ INSTRUCTIONS $(1)$ Highlight in yellow all $2023$ balances in the Balance Sheet and the Statement of Operations that had a signficant difference as defined above.

$(2)$ Identify at least $3$ assets and $3$ liabilities with Risk of Material Misstatement $($RMM$)$ by placing $"$RMM$"$ on the same row as the item in column F$.$

$(3)$ Identify at least $2$ ratios $($in bottom section$)$ that may also cause the auditor to assess a heightened RMM by adding a a comment for that ratio.