Company Company Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Other non-current assets Total assets Current liabilities Long-term debt (10%) Share capital Contributed surplus Retained earnings Total liabilities and shareholders' equity Statement of Earnings Sales revenue (1/3 on credit) Cost of sales Expenses (including interest and income tax) Net earnings $ 35,800 $ 30,000 32,000 38,000 185,000 32,000 155,000 480,000 93, eee 324,000 $ 500,800 $ 904,000 $ 120,000 $ 47,000 99,000 90,000 166,000 580,000 24,000 128,000 91,800 59,000 500,800 $984,000 ded $530,000 $ 890,000 (291,500) (445,000) (180, 200) (338,200) $ 58,300 $ 106,800 Selected data from the financial statements for the previous year follows: Accounts receivable (net) Inventory Long-term debt Other data: Share price year end Income tax rate Dividends declared and paid Shares Outstanding Armstrong Company $ 28,000 84,000 99,000 Blair Company $ 48,000 32,000 90,000 $ $ 18 30% 44,000 15,000 $ 15 30% $230,000 50,000 The companies are in the same line of hucinace and are direct namnstitare in a largematranet The companies are in the same line of business and are direct competitors in a large metropolitan area. Both have been in business approximately ten years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blair Company is more conservative, and as its president said, "We avoid what we consider to be undue risk. Neither company is publicly held. Armstrong Company has an annual audit by an independent auditor, but Blair Company does not Required: 1. Complete a schedule that reflects a ratio analysis of each company. Use ending balonces if overage balonces are not ovoiloble. Bed (Round intermediate calculations and final answers to 2 decimal places.) HINT: To calculate Current Ratio, you will need to first calculate the total Current Assets. Ratio Armstrong Company Blair Company Profitability ratios Gross profit percentage (161) (167) Profit margin * % Earnings per share $ 095 (246) share per share Asset turnover ratios Fixed Asset turnover X times times Receivables turnover Ximes times Inventory turnover 157 times 13 90 times Liquidity ratios Current rabo 25 04 19233 Market fests Prcelearnings ratio 1,097 56 3 30487805 Dividend yield ratio 005 15 00 X X X per $