PSA12.5 Selected financial data of two intense competitors in a recent year are presented here (in millions). Eastco Ltd Westco Ltd Statement of profit or loss data Net sales $ 40 000 $ 82 000 Cost of sales (32 000) (65 000) Selling and administrative expenses (7 200) (13 000) Finance expense (600) (1 000) Gain on sale of equipment 800 200 Income tax expense (300) (1 200) Profit $ 700 $ 2000 Statement of financial position data (end-of-year) Current assets $ 11 000 $ 11 000 Property, plant and equipment (net) 9 000 17 481 Total assets $ 20 000 $ 28 481 Current liabilities $ 5 500 $ 9000 Non-current liabilities 8 200 11 000 Total equity 6 300 8481 Total liabilities and equity $ 20 000 $ 28 481 Beginning-of-year balances Total assets $ 17 504 $ 26 441 Current liabilities 5 698 9981 Total equity 6093 10753 Other data Average net receivables $ 5500 $ 2200 Average inventory 5 000 8 000 Net cash provided by operating activities 1 000 2 500