Right click the speaker icon in the lower right corner of your display. Left click on playback devices. Your sharp TV should be listed if the computer sees it as an audio device. Right click on the TV and set it as the default device. Then click on configure in the playback device window and set the number of speakers your TV has. Or do you have speakers connected directly to your receiver? If so set the receiver as the default device and configure it.
I have given this advice a few times. The best solution that I have found is to do dual display and use the HDMI to the receiver and DVI to the tv. Use Extended display and set the tv as the main monitor. Then you should be able to set up bitstreaming and also be able to push the correct outputs to the TV. I had a somewhat similar problem that when I ran the video through my pioneer receiver it would only allow me to use 1080 60i as video output as it recognized only the receiver for the HDMI handshake. So I setup the dual monitor and have never had a problem.