Discuss firms from two dramatically different industries (e.g., a firm in the services sector, such as a financial firm, and an industrial firm). Access and download the latest balance sheets and income statements for two firms of your choosing. Describe and explain the differences in their capital structures including a ratio analysis of their relative liquidity, efficiency, leverage, and solvency. Be sure to discuss why you would expect the differences and why they are logical given the industry within which the firms operate.

TDCTECII, INC. (Formerly known as Forex Development Corporation) CONSOLIDATED BALANCE SHEETS Decemher 31, 2019 Decemher 31, 2018 27.884 210.054 17155 2315 19.741 689.625 739,366 249.594 529,123 788,717 17,626 SACS Current assets: Cash Accouils roba nolalkwarce tv dublul sunt of $780NT and 968,675. Stively (her current as Total Current assets Croitslyd sofware, nel Totales Lisbilities and Stockholders' Deficit Current liabilities: Acenunta pevable Line of credit Tayroll ux payable Tulalud y cunverliblo Dolos payable - Vuren Relalalt ud intel-Cucul Total Curreal liabilities Tulallabilities Commitments and contingencies Nate") Stockholders' Icticit: Preferred stock. par value $0.0001, 10,000.000 shares authorized, 4.000.000 issued and outstandirs, as of December 31, 2019 and December 31, 2018 Common stock, pur value 50.000, 100,000.000 shares authorized; 68.625,332 and 68.513,332 shares issued and outstanding, as of December 31. 2019 2nd December 31, 2018 Addition guid-in wupiial Accumulated clicil Tual slutklular de jil. Total liabilities and stuckholders' delicit 21.000 31.514 99.198 1,000,000 196.900 1,548.920 1,549.920 1.000.000 126 WOS 1.160,034 1.16,034 400 6.RS3 418.678 11,135.494) G19.334) 739.366 1024 ( 9, .4) 713171 788.717 Sec companying notes to the incial sistencats. ITALIALDIAILIVILIJ SCHOOL SPECIALTY, INC. CONSOLIDATED BALANCE SHEETS (In Thousands, except share data) December 28, 2019 December 29, 2018 $ $ 2,077 61,718 71,424 17,956 431 153,606 27,429 14,768 1,030 77,888 90,061 15,763 1,019 185,761 31,902 24,733 13,740 466 234,742 4,580 33,306 14,807 320 270,676 $ $ $ 30,352 ASSETS Current assets: Cash Accounts receivable, less allowance for doubtful accounts of $929 and $1,516, respectively Inventories, net Prepaid expenses and other current assets Refundable income taxes Total current assets Property, plant and equipment, net Operating lease right-of-use asset Goodwill Intangible assets, net Development costs and other, net Deferred taxes long-term Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current maturities of long-term debt Current operating lease liability Accounts payable Accrued compensation Contract liabilities Accrued royalties Other accrued liabilities Total current liabilities Long-term debt less current maturities Operating lease liability Other liabilities Total liabilities Commitments and contingencies - Note 16 Stockholders' equity: Preferred stock, $0.001 par value per share, 500,000 shares authorized; none outstanding Common stock, $0.001 par value per share, 50,000,000 shares 7,025,219 and 7,000,000 shares issued and outstanding, respectively Capital in excess of par value Treasury stock, at cost 5,145 and 0 shares, respectively Accumulated other comprehensive loss Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity $ 145,194 4,886 24,011 8,929 7,006 1,992 13,439 205,457 41,277 7,302 5,641 2,678 11,379 98,629 103,583 10,008 493 215,958 1,101 203,313 125,072 125,793 (34) (1,797) (105,185) 18,784 $ 234,742 (2,079) (55,637) 67,363 $ 270,676 See accompanying notes to consolidated financial statements. TDCTECII, INC. (Formerly known as Forex Development Corporation) CONSOLIDATED BALANCE SHEETS Decemher 31, 2019 Decemher 31, 2018 27.884 210.054 17155 2315 19.741 689.625 739,366 249.594 529,123 788,717 17,626 SACS Current assets: Cash Accouils roba nolalkwarce tv dublul sunt of $780NT and 968,675. Stively (her current as Total Current assets Croitslyd sofware, nel Totales Lisbilities and Stockholders' Deficit Current liabilities: Acenunta pevable Line of credit Tayroll ux payable Tulalud y cunverliblo Dolos payable - Vuren Relalalt ud intel-Cucul Total Curreal liabilities Tulallabilities Commitments and contingencies Nate") Stockholders' Icticit: Preferred stock. par value $0.0001, 10,000.000 shares authorized, 4.000.000 issued and outstandirs, as of December 31, 2019 and December 31, 2018 Common stock, pur value 50.000, 100,000.000 shares authorized; 68.625,332 and 68.513,332 shares issued and outstanding, as of December 31. 2019 2nd December 31, 2018 Addition guid-in wupiial Accumulated clicil Tual slutklular de jil. Total liabilities and stuckholders' delicit 21.000 31.514 99.198 1,000,000 196.900 1,548.920 1,549.920 1.000.000 126 WOS 1.160,034 1.16,034 400 6.RS3 418.678 11,135.494) G19.334) 739.366 1024 ( 9, .4) 713171 788.717 Sec companying notes to the incial sistencats. ITALIALDIAILIVILIJ SCHOOL SPECIALTY, INC. CONSOLIDATED BALANCE SHEETS (In Thousands, except share data) December 28, 2019 December 29, 2018 $ $ 2,077 61,718 71,424 17,956 431 153,606 27,429 14,768 1,030 77,888 90,061 15,763 1,019 185,761 31,902 24,733 13,740 466 234,742 4,580 33,306 14,807 320 270,676 $ $ $ 30,352 ASSETS Current assets: Cash Accounts receivable, less allowance for doubtful accounts of $929 and $1,516, respectively Inventories, net Prepaid expenses and other current assets Refundable income taxes Total current assets Property, plant and equipment, net Operating lease right-of-use asset Goodwill Intangible assets, net Development costs and other, net Deferred taxes long-term Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current maturities of long-term debt Current operating lease liability Accounts payable Accrued compensation Contract liabilities Accrued royalties Other accrued liabilities Total current liabilities Long-term debt less current maturities Operating lease liability Other liabilities Total liabilities Commitments and contingencies - Note 16 Stockholders' equity: Preferred stock, $0.001 par value per share, 500,000 shares authorized; none outstanding Common stock, $0.001 par value per share, 50,000,000 shares 7,025,219 and 7,000,000 shares issued and outstanding, respectively Capital in excess of par value Treasury stock, at cost 5,145 and 0 shares, respectively Accumulated other comprehensive loss Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity $ 145,194 4,886 24,011 8,929 7,006 1,992 13,439 205,457 41,277 7,302 5,641 2,678 11,379 98,629 103,583 10,008 493 215,958 1,101 203,313 125,072 125,793 (34) (1,797) (105,185) 18,784 $ 234,742 (2,079) (55,637) 67,363 $ 270,676 See accompanying notes to consolidated financial statements