) Propose and justify a dollar amount for Materiality for this 2021 audit of Edouard Inc. (assumes you accept the engagement) using the following bases: i. Rule of Thumb of between 5% - 10% of Operating Profit (i.e. Pre-tax profit) ii. Industry standard of 0.4% of revenues [10 marks total for (c)] Note: Use the following definitions for the purposes of this assignment Current Ratio = Current Assets / Current Liabilities Quick Ratio or Acid Test = (Cash + Net Receivables) / Current Liabilities