Refer to Problem \(\mathbf{2 5}\) in Chapter 6. Illinois Corporation and Ohio Corporation are in an industry that experienced a 10-percent increase in prices during 1979. Illinois Corporation uses the LIFO inventory cost-flow assumption and straight-line depreciation method. Ohio Corporation uses the FIFO inventory cost-flow assumption and the double-declining-balance depreciation method. Reassess the relative profitability and liquidity of the two firms in light of the information concerning their accounting procedures.