1) Whitman Products and Rockland Industries report the following information at December 31:

a. Which company is a manufacturer? Explain. b. Prepare the current asset section of the balance sheet for the manufacturer.

Accounts receivable Cash Finished goods inventory Goods in process inventory Merchandise inventory Prepaid expenses Raw materials inventory WHITMAN ROCKLAND $41,000 $68,000 6,000 7,000 25,000 40,000 48,000 1,000 2,000 21,000