al Statement Analysis Assignment i Saved The financial statements for Armstrong and Blair companies for the current year are summarized below: Statement of Financial Position Armstrong Company Blair Company 1:57:16 ook Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Other non-current assets Total assets Current liabilities $ 35,100 $ 23,000 45,100 105,100 145,100 86,000 $ 416,400 $ 102,500 65,000 152,000 31,000 65,900 Long-term debt (10%) Share capital Contributed surplus. Retained earnings Total liabilities and shareholders' equity $ 416,400 Statement of Earnings Sales revenue (1/3 on credit) Cost of sales Expenses (including interest and income tax) Net earnings. $ 460,000 (253,000) (156,400) $ 50,600 31,000 39,000 410,000 310,000 $ 813,000 $ 48,000 72,500 510,000 121,000 61,500 $ 813,000 $ 820,000 (410,000) (311,600) $ 98,400 Selected data from the financial statements for the previous year follows: