Common-size financial statements.The balance sheet information for two companies is in the popup window:

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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 $ $ 5,328 % Accounts payable $ 12,211 % Investments $ 4,044 % Short-term debt $ 1,047 % Accounts receivable $ 8,162 % Other short-term Inventory $ 5,380 % liabilities $ $ O % Total current assets $ 22,914 % Total current liabilities $ 13,258 % Long-term investments $ 83 % Long-term debt 2,854 % Other liabilities $ $ $ $ 4,886 Net plant, property and equipment % $ 9,722 % Total liabilities 20,998 % Goodwill $ 5,376 % OWNERS' EQUITY Intangible $ 6,049 % Common stock $ 3,088 % Other $ 3,715 % Treasury stock $ -6,756 % Retained earnings $ 30,529 % Total owners' equity $ 26,861 % TOTAL LIABILITIES TOTAL ASSETS $ 47,859| 100.00 % AND OWNERS' EQUITY | $ 47,859 100.00 % - X Data table Balance Balance Total Total Assets Balance Co. 1 Total Assets Balance Co. 2 ASSETS Co. 1 Co. 2 2 Assets Current assets Total Assets LIABILITIES Current liabilities % Accounts payable % % Short-term debt Cash $ $ 5,328 % $ 295 % $ 652 % $ 12,211 $ 1,047 % $ 352 % $ 0 % % $ 226 % Other short-term % liabilities % $ 486 $ 0 % $ 115 % % $ 1,359 $ 13,258 % $ 767 % Investments $ 4,044 Accounts receivable $ 8,162 Inventory $ 5,380 Total current assets $ 22,914 Long-term investments $ 83 Net plant, property and equipment $ 9,722 Goodwill $ 5,376 % $ 309 % Total current liabilities % Long-term debt Other liabilities $ % $ 10 % 2,854 4,886 $ % $ 53 % % 1,392 % Total liabilities $ 20,998 % $ % 830 % % % 63 to assos Intangible $ 6,049 % $ 11 % OWNERS' EQUITY % Common stock % % Treasury stock $ 3,088 % $ 1,012 % Other $ 3,715 % $ 74 $ -6,756 % $ 0 % Retained earnings $ 30,529 % $ 1,366 % Total owners' equity $ 26,861 % $ 2,378 % TOTAL LIABILITIES % AND OWNERS' EQUITY TOTAL ASSETS $ 47,859 100.00 % $ 3,208100.00 $ 47,859 100.00 % $ $ 3,208 100.00 %