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1 Please complete Exercise as follows: 2 3 Current assets for two different companies at calendar year-end 2020 are listed here. 4 One is a manufacturer, Sierra Snowboard Mfg., and the other, Great Foods, is a 5 grocery distribution company. (1) Identify which set of numbers relates to the 6 manufacturer and which to the merchandiser. (2) Prepare the current asset section for 7 each company from this information. Place the correct company heading at the top of 8 each partial balance sheet. Discuss why the current asset section for these two 9 companies is different. Remember Current Assets are assets that are expected to be cash or be used up within one year. That is why fixed assets are not in this list. 10 12 13 Account 15 16 17 Cash Raw materials inventory Merchandise inventory Goods in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses Company 1 Company 2 $ 16,000 $ 12,000 41,250 44,250 30,000 50,000 62,000 81,000 3,000 600 18 19 20 21