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Company A and Company B are competitors in the same industry at December 31, 2020. Balance Sheet Company A Company B Assets Cash 5000 6000

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Company A and Company B are competitors in the same industry at December 31, 2020. Balance Sheet Company A Company B Assets Cash 5000 6000 Short-term investment 65000 40000 Accounts Receivables 124000 85000 Inventories 145000 110000 Prepaid Rent 15000 13000 Land 130000 130000 Building and Equipment(net) 200000 185000 Liabilities and Equity Short term Notes Payable 50000 50000 Accounts Payable 50000 42000 Accrued Salaries Payable 60000 40000 Bonds Payable 120000 120000 Common Stocks 300000 300000 Retained Earnings 213000 145000 Income Statement Net Sales 800000 700000 Cost of Goods Sold 600000 500000 Operating Expenses 190000 140000 Interest Expense 4000 3000 Income Tax Expense 3000 2000 Net Income 3000 55000 Additional Information: 1. Assets and liabilities in the table above represent all assets and liabilities. 2. Use the year 365 days. Compute: Current ratio for Company A and B O company A-1.26, Company B=1.9 O Company A=0.5, Company B=0.7 O company A=2.2, Company B-24 O Company A-2.2, Company B=1.9

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