This Apollo Shoes mini case is asking me to complete the following tasks:(1) Foot balances and ensure mathematical accuracy of PBC trial balances.(2) Trace prior period balances to the closing balance in the prior period's financial statements (10-K). Note: some amounts on the financial statements are the sum of multiple TB accounts.(3) Complete Materiality Memo.I went through and completed it, but it appears as if I am calculating the wrong numbers for the 2020 balance sheet and income statement. The program keeps telling me I'm inputting the wrong numbers. I've attached my work in the photos - please let me know what you think I'm doing wrong. \begin{tabular}{|l|l|l|l|l|l|l|l|l|}\hline & Apollo Shoes, Inc & PBC & & & & & & \\\hline & Preclosing Trial Balance & A-2 & & & & & & \\\hline & 31-Dec-20 & & & & & & & \\\hline Account II & Account Description & Debit Amt & Credit Amt & Single Column format & & & & \\\hline 10100 & Cash on Hand & \$2,275.23 & & \$2,275.23 & & & \multicolumn{2}{|c|}{Balance Sheet Data [page iv]}\\\hline 10200 & Regular Checking Account & \$557,125.92 & & \$557,125.92 & & & Working Capital & \$78,556,964.64\\\hline 10300 & Payroll Checking Account & & & \$0.00 & & & Total Assets & \$131,224,037.09\\\hline 10400 & Savings Account & \$3,645,599.15 & & \$3,645,599.15 & & & Long-Term Debt & \$0.00\\\hline 11000 & Accounts Receivable & \$51,515,259.98 & & \$51,515,259.98 & & & Shareholders' Equity & \$21,699,558.64\\\hline 11400 & Other Receivables & \$1,250,000.00 & & \$1,250,000.00 & & & & \\\hline 11500 & \multicolumn{2}{|l|}{Allowance for Doubtful Accounts} & \$1,239,009.75 & (\$1,239,009.75) & & & & \\\hline 12000 & Inventory & \$67,724,527.50 & & \$67,724,527.50 & & & Current Assets & \$126,042,531.81\\\hline 12300 & \multicolumn{2}{|l|}{Reserve for Inventory Obsolescence} & \$846,000.00 & (\$846,000.00) & & & Current Liabilities & (\$47,485,567.17)\\\hline 14100 & Prepaid Insurance & \$3,424,213.78 & & \$3,424,213.78 & & & Working Capital & \$78,556,964.64\\\hline 14200 & Prepaid Rent & & & \$0.00 & & & & \\\hline 14300 & Office Supplies & \$8,540.00 & & \$8,540.00 & & & & \\\hline 14400 & Notes Receivable-Current & & & \$0.00 & & & & \\\hline 14700 & Other Current Assets & & & \$0.00 & & & & \\\hline 15000 & Land & \$117,000.00 & & \$117,000.00 & & & & \\\hline 15100 & Buildings and Land Improvem & \$674,313.92 & & \$674,313.92 & & & & \\\hline 15200 & Machinery, Equipment, Office & \$2,929,097.13 & & \$2,929,097.13 & & & & \\\hline 17000 & Accum. Depreciation & & \$610,000.00 & (\$610,000.00) & & & & \\\hline 19000 & Investments & \$1,998,780.39 & & \$1,998,780.39 & & & & \\\hline 19032 & Deferred Tax Assets (Liabiliti & \$18,473.25 & & \$18,473.25 & & & & \\\hline 19900 & Other Noncurrent Assets & \$53,840.59 & & \$53,840.59 & & & & \\\hline 20000 & Accounts Payable & & \$1,922,095.91 & (\$1,922,095.91) & & & & \\\hline 23100 & Sales Tax Payable & & & \$0.00 & & & & \\\hline 23122 & Income Tax Payable & & \$ 8\begin{tabular}{|l|l|l|l|}\hline & Apollo Shoes & A-5 & \\\hline & ENGAGEMENT MATERIALITY & Prepared by & NK \\\hline & (Required for all engagements) & Reviewed by & \\\hline CLIENT: & Apollo Shoes & & \\\hline PERIOD ENDED: & December 31,2020 & & \\\hline\end{tabular}This completed form must be provided to the engagement quality control reviewer in the planning stage of every audit. Please complete all the cells highlighted in yellow.\begin{table}\captionsetup{labelformat=empty}\caption{PLANNING MATERIALITY CALCULATION}\begin{tabular}{|l|l|l|}\hline \multicolumn{3}{|c|}{Only if the current year net income (loss)(or other measure) is significantly different from the entity's historical results would 2-year averaging to obtain normalized net income (loss)(or other measure) be appropriate.}\\\hline PROFIT ORENTED ENTITIES & Current Year & Prior Year \\\hline Net income (loss) & 49,708,535 & 104,603,697\\\hline Plus (minus) unusual, non-recurring revenues and expenses, and & - & -\\\hline ADJUSTED NET INCOME (LOSS) & 49,708,535 & 104,603,697\\\hline Adjusted net income (loss) multiplied by: & & \\\hline 5\% & 2,485,427 & 5,230,185\\\hline & & \\\hline & Current Year & \\\hline TOTAL ASSETS & 131,224,037 & 36,794,226\\\hline Total assets multiplied by: & & \\\hline 1\% & 1,312,000 & 368,000\\\hline & Current Year & \\\hline TOTAL REVENUES & 230,455,104 & 240,575,054\\\hline Plus (minus) unusual, non-recurring & - & \\\hline ADJUSTED REVENJES & 230,455,103.52 & 240,575,053.76\\\hline Total adjusted revenues multiplied by: & & \\\hline 1\% & 2,304,551 & 2,405,751\\\hline\end{tabular}\end{table}1. Financial data source fi.e. actual, budget, projection):income, revenue, total assets, other):Adjusted net income is a variable that considers net sales, tax expense, and operational expense - which makes it a good overall measure of a company's performance, and makes it easier to identify any significant deviations from the previous year.3. Percentage of financial data source used:4. Amount selected (planning materiality)Being that Apollo is a new client and we were not provided with materiality amounts from the predecessor auditor, we assume that planning materiality is \(5\%\) of net income from 20196. Performance materiality/Tolerable misstatement (75\% of planning materiality)7. Listing scope famount threshold for suggested adjustments)(using 5\% to 10\% of planning materiality based on expected level of adjustments is usually appropriate]