Common-size financial statements. The balance sheet information for two companies is in the popup window: D. Complete the common-size balance sheet for these companies. Review each company's percentages of total assets. Are these companies operating with similar philosophies or in similar industries? What appears to be the major difference in financing for these two companies? % of % % of Balance Total Balance Total ASSETS Co. 1 Assets LIABILITIES Co. 1 Assets Current assets Current liabilities Cash $ 5,218 % Accounts payable $ 12,384 % Investments $ 4,166 % Short-term debt $ 1,063 % Accounts receivable $ 8,038 % Other short-term Inventory $ 5,388 % liabilities $ 0 % Total current assets $ 22,810 % Total current liabilities $ 13,447 % Long-term investments $ 90 % Long-term debt $ 2,867 % Net plant, property Other liabilities $ 4,926 % and equipment $ 9,724 % Total liabilities $ 21,240 % Goodwill $ 5,336 % OWNERS' EQUITY Intangible $ 6,011 % Common stock $ 3,080 % Other $ 3,750 % Treasury stock $ -6,604 % Retained earnings $ 30,005 % Total owners' equity $ 26,481 % TOTAL LIABILITIES TOTAL ASSETS $ 47,721 100.00 % AND OWNERS' EQUITY $ 47,721 100.00% Common-size financial statements. The balance sheet information for two companies is in the popup window: D. Complete the common-size balance sheet for these companies. Review each company's percentages of total assets. Are these companies operating with similar philosophies or in similar industries? What appears to be the major difference in financing for these two companies? % of % % of Balance Total Balance Total ASSETS Co. 1 Assets LIABILITIES Co. 1 Assets Current assets Current liabilities Cash $ 5,218 % Accounts payable $ 12,384 % Investments $ 4,166 % Short-term debt $ 1,063 % Accounts receivable $ 8,038 % Other short-term Inventory $ 5,388 % liabilities $ 0 % Total current assets $ 22,810 % Total current liabilities $ 13,447 % Long-term investments $ 90 % Long-term debt $ 2,867 % Net plant, property Other liabilities $ 4,926 % and equipment $ 9,724 % Total liabilities $ 21,240 % Goodwill $ 5,336 % OWNERS' EQUITY Intangible $ 6,011 % Common stock $ 3,080 % Other $ 3,750 % Treasury stock $ -6,604 % Retained earnings $ 30,005 % Total owners' equity $ 26,481 % TOTAL LIABILITIES TOTAL ASSETS $ 47,721 100.00 % AND OWNERS' EQUITY $ 47,721 100.00%