G.36 Testing the Client's Estimates with Underlying Data Assume that performance materiality has been set at $130,000 for the purpose of this analytical procedure. Prepare and appropriately document an analytical procedure testing the reported sales revenue of $26,726,864 and answer the following questions:Assume that performance materiality has been set at $130,000 for the purpose of this analytical procedure. Prepare and appropriately document an analytical procedure testing the reported sales revenue of $26,726,864 and answer the following questions: Required: a. What is your best estimate of 2018 football ticket revenue using the client's average ticket sales and prices provided in the case? Do not use the actual data for this calculation. b. Based on the performance materiality set, does 2018 Football Ticket Revenue appear to be fairly stated? Yes c. At what level would you assess the risk of material misstatement related to 2018 football ticket revenue after the performance of your analyal procedure (low, moderate, high)? Low Moderate High d. What additional procedures would you recommend performing related to your audit of Football Ticket Revenue? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers.) 2 Test completeness and accuracy of elients calculations 2 Confirmation or Cosh 2 Confirmation of Accounts Receivable 7 Confermation of Accounts Payable 2 vouch a sample of sales to cash receipts Observe a count of tichet inventory