Question 5 Canadian Snowflake and Norwegian Snowshoe are two companies that sell winter sports goods. Please take a look at their Balance Sheets for the year ended Dec 31st, 2021. a) Calculate all the financial ratios that you can given the information you have. Canadian Snowflake Norwegian Snowshoe Assets Cash $ 47,555 $ 24,355 AR $ 21,545 $ 26,045 Prepaid Insurance $ 2,400 $ 1,700 Inventory $ 48,055 $ 45,555 Current Assets $ 119,555 $ 97,655 Land $ 20,045 $ 10,045 Plant Assets $ 229,900 $ 189,900 Accumulated Depreciation -$ 85,500 $ 71,100 Total Assets $ 284,000 $ 226,500 b) Compare each financial ratio between each company. c) Can you come up with a conclusion? Which company is in a better financial situation? Liabilities and Equity Liabilities: AP $ Salaries Payable $ Current Liabilities $ Notes Payable (Long-term) $ Total Liabilities $ Equity: Common Stock $ Retained Earnings $ Total Equity $ Total Liabilities and Equity $ 17,255 $ 1,945 $ 19,200 $ 84,900 $ 104,100 $ 19,055 1,545 20,600 74,900 95,500 115,000 $ 64,900 $ 179,900 $ 284,000 $ 70,000 61,000 131,000 226,500