1 Exercise 1-11 (Algo) Balance sheet identification and preparation LO P1 7 points eBook Hint Ask End-of-year current assets for two different companies follow. One is a manufacturer, Rayzer Skis Manufacturing, and the other, Sunrise Foods, is a merchandiser. Cash Account Merchandise inventory Raw materials inventory Company 1 Company 2 $ 8,000 $6,000 49,750 46,750 Work in process inventory 34,000 54,000 Accounts receivable, net Prepaid expenses 69,000 83,000 5,000 1,000 Finished goods inventory 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser 2a. & 2b. Prepare the current asset section of the balance sheet at December 31 for each company. Complete this question by entering your answers in the tabs below. Print Req 1 Req 2A Req 28 Prepare the current asset section of the balance sheet at December 31 for Company 1. References Current Assets Section of Balance Sheet December 31 Total current assets $ 0 Ch 01 Ex 1-11 Saved Help 7 1 points eBook Hint End-of-year current assets for two different companies follow. One is a manufacturer, Rayzer Skis Manufacturing, and the other, Sunrise Foods, is a merchandiser. Cash Account Merchandise inventory Raw materials inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses Company 1 $ 8,000 Company 2 $ 6,000 49,750 46,750 34,000 54,000 69,000 83,000 5,000 1,000 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section of the balance sheet at December 31 for each company. Complete this question by entering your answers in the tabs below. Ask Req 1 Req 2A Req 28 Print References Prepare the current asset section of the balance sheet at December 31 for Company 2. Current Assets Section of Balance Sheet December 31 Mc Graw Hill Total current assets $