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

Balance Total Co. 1 Assets $ 12,330 % $ 1,113 % 0 % ASSETS Current assets Cash Investments Accounts receivable Inventory Total current assets Long-term investments Net plant, property and equipment Goodwill Intangible Other $ % $ Balance Total Co. 1 Assets LIABILITIES Current liabilities 5,350 % Accounts payable 4,109 % Short-term debt $ 8,147 % Other short-term $ 5,243 % liabilities 22,849 % Total current liabilities 81 % Long-term debt Other liabilities 9,819 % Total liabilities 5,241 % OWNERS' EQUITY 6,111 % Common stock $ 3,608 % Treasury stock Retained earnings Total owners' equity TOTAL LIABILITIES $ 47,709 100.00 % AND OWNERS' EQUITY % $ 13,443 2,991 $ 4,962 % $ 21,396 % $ $ % 3,104 -6,787 $ % % $ 29,996 $ 26,313 % TOTAL ASSETS $ 47,709 100.00% Balance Total Balance Balance Total Balance Total Total Assets ASSETS Co. 1 Assets Co. 2 LIABILITIES Co. 1 Assets Co. 2 Assets Current assets Current liabilities Cash $ 5,350 % $ 301 % $ 659 % % Accounts payable % Short-term debt $ 12,330 $ % $ 357 1,113 % $ 0 % Investments Accounts receivable Inventory $ 4,109 $ 8,147 $ 5,243 223 % $ % $ % Other short-term % liabilities 488 $ 0 % $ 117 % $ 22,849 %$ 1,369 % Total current liabilities % $ 776 % 81 % $ 300 % $ $ 13,443 $ 2,991 $ 4,962 3 Total current assets Long-term investments Net plant, property and equipment % % Long-term debt Other liabilities % $ 54 % $ 9,819 % $ 1,428 % Total liabilities $ 21,396 % $ 833 % Goodwill % $ 68 % OWNERS' EQUITY $ 5,241 $ 6,111 27 % Common stock $ 3,104 % 1,021 % Intangible Other % $ % $ $ 3,608 88 % Treasury stock % $ 0 % $ -6,787 S 29,996 Retained earnings % s 1,426 % $ 26,313 % $ 2,447 % Total owners' equity TOTAL LIABILITIES TOTAL ASSETS $ 47,709 100.00 % $ 3,280 100.00 % AND OWNERS' EQUITY $ 47,709 100.00 % $ 3,280 100.00 %