05 Balance Sheet December 31, 2018 Alpha Company Beta Company $ $ Cash 10,000 35,000 Accounts receivable 45,000 120,000 Inventory 70,000 190,000 Land 40,000 100,000 11,000 20,000 520,000 180,000 $350,000 $985,000 60,000 165,000 Intangibles Property, plant, and equipment Total assets Accounts payable Bonds payable Preferred stock, S1 par Common stock, $10 par Retained earnings Total liabilities and capital 100,000 410,000 50,000 30,000 100,000 280,000 46,000 100,000 $356,000 $985,000 Income Statement For the Year Ended December 31, 2018 Alpha Company Beta Company $ $ Sales 1,050,000 2,800,000 725,000 2,050,000 230,000 580,000 Cost of goods sold Selling and administrative expenses Interest expense Income taxes Net income 10,000 32,000 42.000 65.000 $ 43,000 $ 73,000 Required: Compare the performance of Alpha and Beta company using various financial ratios and explain which company performed better based on your findings