Assets 1. Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. a. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. b. Compute the number of days' sales in receivables ratios for each company for 2018 and 2019. c. Determine which company is the better investment and why. Round answers to two decimal places. Cash Accounts Receivable Inventory Equipment Total Assets Liabilities BEAN SUPERSTORE Comparative Balance Sheet December 31, 2017, 2018, and 2019 2019 LEGUMES PLUS Comparative Balance Sheet December 31, 2017, 2018, and 2019 2018 2017 2019 2018 2017 $345,600 $330,460 $300,000 $407,000 $386,450 $356,367 67,000 62,000 59,000 85,430 82,670 79,230 145,830 178,011 155,205 128,080 40,036 52,142 100,465 101,202 103,085 182,006 23,400 111,701 $658,895 $671,673 $617,290 $802,516 $532,556 $599,440 Salaries Payable $ 90,200 $ 88,563 Accounts Payable Notes Payable 70,000 41,000 71,670 50,650 $ 84,209 69,331 58,250 $ 95,100 62,430 63,222 $91,455 $ 89,467 86,331 67,880 87,197 68,312 Equity Common Stock $ 22,695 Retained Earnings 435,000 Total Liabilities and Equity $658,895 $ 20,990 439,800 $671,673 $ 19,100 386,400 $617,290 $ 25,464 556,300 $802,516 $ 22,090 264,800 $532,556 $ 22,188 332,276 $599,440 BEAN SUPERSTORE Comparative Income Statement Year Ended December 31, 2017, 2018, and 2019 LEGUMES PLUS Comparative Income Statement Year Ended December 31, 2017, 2018, and 2019 2019 2018 2017 2019 2018 2017 et Credit Sales $1,000,000 $984,400 $875,350 $1,256,300 $1,020,570 $967,478 ost of Goods Sold 450,000 419,600 388,950 500,000 580,320 465,780 ross Margin 550,000 564,800 486,400 756,300 440,250 501,698 xpenses 115,000 125,000 100,000 200,000 175,450 169,422 et Income (Loss) 435,000 439,800 386,400 556,300 264,800 332,276