Complete the table below using information from the financial statements and from the table you completed above. Comment on the results comparing CNH Global with Caterpillar's 'As Reported' and 'As if FIFO' income statement and balance sheet information. Year Ended December 31, 2007 Common-size Cost of goods soldi Net income Growth in Net income Common-size Net income Total assets Invent01Y Common-size Inventory2 Notes: Caterpillar As Reponed As if FIFO CNH Global As Reported g. To common size items from the income statement, divide by total revenue attributable to equipment sales (that is, do not include revenues from each company's financing operations). To common size items from the balance sheet, divide by total assets. The average inventory holding period is estimated using the following formula (the denominator is referred to as the inventory turnover ratio): 365 days Average Inventory Holding Penod Cost of Sales Average Invent01Y Use data from the financial statements to estimate the average inventory holding period for Caterpillar and CNH Global for fiscal 2006 and 2007. Calculate the ratios for both companies with FIFO-based numbers. Additional information: CNH Global's inventory balance for fiscal 2005 was $2,466. Evaluate how well Catelpillar manages its inventory relative to its competitor. Now recalculate the average holding period for Caterpillar using their as-reported (LIFO) numbers. Do you come to a different conclusion about their inventory tumover?