Chapter 15 Case 15.3b. Using Excel to Perform Materiality Planning PROBLEM Required: Provide input into cells shaded in yellow in this template. Use mathematical Mobile Security, Inc. (MSI) has been an audit client of Leo \& Lee, LLP for the past 12 formulas with cell references to the Problem and work areas as indicated. years. MSI is a small, publicly traded aviation company based in Cleveland, Ohio, 7 where it manufactures high-tech unmanned aerial vehicles (UAV), also known as 8 drones, and other surveillance and security equipment. MSI's products are primarily Calculate planning materiality for MSI based on results from the first two quarters and 9 used by the military and scientific research institutions, but there is growing demand 10 for UAVs for commercial and recreational use. MSI must go through an extensive 11 bidding process for large government contracts. Because of the sensitive nature of 12 government contracts and military product designs, both the facilities and records of The auditors have decided on planning materiality of 5% of pre-tax income. MSI's 1413 MSI must he highlv secured. 15 fiscal year-end is June 30 . The auditors are nearing the final wrap-up stages of the 16 audit for the year ended June 30,2026 . The following table shows final financial 17 information for all four quarters of fiscal year end June 30,2026. Chapter 15 Case 15.3b. Using Excel to Perform Materiality Planning PROBLEM Required: Provide input into cells shaded in yellow in this template. Use mathematical Mobile Security, Inc. (MSI) has been an audit client of Leo \& Lee, LLP for the past 12 formulas with cell references to the Problem and work areas as indicated. years. MSI is a small, publicly traded aviation company based in Cleveland, Ohio, 7 where it manufactures high-tech unmanned aerial vehicles (UAV), also known as 8 drones, and other surveillance and security equipment. MSI's products are primarily Calculate planning materiality for MSI based on results from the first two quarters and 9 used by the military and scientific research institutions, but there is growing demand 10 for UAVs for commercial and recreational use. MSI must go through an extensive 11 bidding process for large government contracts. Because of the sensitive nature of 12 government contracts and military product designs, both the facilities and records of The auditors have decided on planning materiality of 5% of pre-tax income. MSI's 1413 MSI must he highlv secured. 15 fiscal year-end is June 30 . The auditors are nearing the final wrap-up stages of the 16 audit for the year ended June 30,2026 . The following table shows final financial 17 information for all four quarters of fiscal year end June 30,2026