Global Company and Local Company are competitors in the same industry. Selected financial data from their 2020 statements follow. Balance Sheet December 31, 2020 Cash Accounts receivable Inventory Investments Intangibles Property, plant, and equipment Total assets Accounts payable Bonds payable Preferred stock, $1 par Common stock, $10 par Retained earnings Total liabilities and capital Global Company Local Company $ 35,000 $ 250,000 140,000 215,000 485,000 765,000 125,000 38,000 540,000 $1,093,000 405,000 80,000 995.000 $2,980.000 $185,000 305,000 $ 500,000 1,235,000 155,000 305,000 95,000 845,000 143,000 305.000 $1.093.000 $2.900.000 Income Statement For the Year Ended December 31, 2020 Sales Cost of goods sold Selling and administrative expenses Interest expense Income taxes Not income Global Company Local Company $3,150,000 $14,000,000 2,175,000 10.250,000 690,000 30,000 2,900,000 160,000 126.000 $129.000 325.000 $365.000