AP11.2 (LO 2) Moderate Analytical procedures The following data was taken from the production and accounting records for Casuccio Manufacturing, Inc. Unaudited Audited Audited 2023 2022 2021 Operating Data Capacity in units 450,000 450,000 450,000 Production in units 450,000 400,000 300,000 Inventory in units 32,000 28,000 21,000 Financial Data ($000) Total revenues $ 35,200 $ 27,500 $ 21,200 Total assets $ 23,000 $ 19,500 $ 15,700 Accounts receivable, net 5,900 4,300 3,900 Bad debt expense $ 175 $ 135 $ 105 Accounts receivable written off 125 100 $ 165 2. Sales to pr, uction. b. counts receivable turn 1. Describe the implications of the resulting ratios for the auditor's audit strategy for the year 2023. 2. What specific assertions are likely to be misstated? 3. How should the auditor respond in terms of potential audit tests