Assume that you are purchasing an investment and have decided to invest in a company in the smartphone business You have narrowed the choice to Zone Electronics or Zone Plus Electronics and have assembled the following data Selected income statement data for the current year follows (Click to view the income statement data) Selected balance sheet data at the beginning of the current year follow (Click to view the balance sheet data) Selected belance sheet and market price data at the end of the curent year follow Your strategy is to invest in companies that have low priceisamings ratios but appear to be in good shape Snancially. Assume that you have analyzed all other factors and that your decision depends on the results of radio analysis Read the reas Ender any percentages as decenas in the format, XXXX Round your answe a Acid-test ratio Zone Zone Plut Clear all Help me solve this Video Get more help- Check answer Income statement $ 69 Zone Zone Plus 423,400 $ 474,500 EA 207,000 $ 264,000 17,500 $ 63,600 $ 81,600 Net sales (all on credit) Cost of goods sold Interest expense Net income $ Balance sheet and market price data Zone Zone Plus Current receivables, net $ 36,000 $ 32,800 Inventories. $ 74,750 $ 96,000 Total assets 259,000 $ 272,000 Common stock: $1 par, (12,000 shares) $ 12,000 Common stock: $1 par, (16,000 shares) $ 16,000 Balance sheet and market price data hat ed Zone Zone Plus htag Current assets: Cash $ SA 28,500 $ 19,500 Short-term investments $ 40,060 $ 14,190 Current receivables, net $ 36,500 $ 46,500 Inventories $ 69,000 $ 96,000 $ 4,940 $ 6,810 Prepaid expenses Total current assets $ 179,000 $ 183,000 Total assets $ 412,000 $ 415,625 Total current liabilities $ 103,000 $ 99,000 Total liabilities.. $ 103,000 $ 133,000 Common stock: $1 par, (12,000 shares).. $ 12,000 Common stock: $1 par, (16,000 shares) .. $ 16,000 Total stockholders' equity $ 309,000 $ 282,625 Market price per share of common stock $ 79.50 $ 86.70