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12.00 points The financial statements for Thor and Gunnar companies are summarized here Thor Gunnar Company Company Balance Sheet Cash AccountsReceivable, Net Inventory Equipment, Net Other Assets $ 43,000 85,000 170,000 786,000 204,000 $ 40,000 36,000 46,000 208,000 76,400 Total Assets $1,288,000 $406,400 Current Liabilities Note Payable (long-term) (12% interest rate) Common Stock (par $20) Additional Paid-in Capital Retained Earnings $184,000 282,000 680,000 78,000 64,000 $ 34,000 82,000 260,000 12,800 17,600 Total Liabilities and Stockholders' Equity $1,288,000 $406,400 Income Statement Sales Revenue Cost of Goods Sold Other Expenses $1,144,000 680,000 344,000 $360,000 188,000 122,000 Net Income $ 120,000 $ 50,000 Other Data Per share price at end of year Selected Data from Previous Year Accounts Receivable, Net Inventory Equipment, Net Note Payable (long-term) (12% interest rate) Total Stockholders' Equity 14.60 $ 28.00 $ 73,800 141,000 786,000 282,000 822,000 $ 35,200 53,600 208,000 82,000 290,400 These two companies are in the same business and state but different cities. Each company has been in operation for about 10 years. Both companies received an unqualified audit opinion on the financial statements. Thor Company wants to borrow $113,000 and Gunnar Company is asking for $44,000. The loans will be for a two-year period. Neither company issued stock in the current year. Assume the end-of year total assets and net equipment balances approximate the year's average and all sales are on account