Review the select information for Bean Superstore and Legumes Plus (Industry competitors), and then complete the following BEAN SUPERSTORE Comparative Balance Sheet December 31, 2017, 2018, and 2019 2019 2018 2017 Assets Cash Accounts Receivable $345,600 65,000 145,830 100,465 Inventory $331,460 65,000 178,011 101,202 $675,673 $300,000 60,000 155,205 103,085 $618,290 Equipment Total Assets $656,895 Liabilities $88,563 $90,200 70,000 42,000 71,670 50,650 $84,209 69,331 58,250 Salaries Payable Accounts Payable Notes Payable Equity Common Stock Retained Earnings Total Liabilities and Equity 22,695 432,000 $656,895 20,990 443,800 $675,673 19,100 387,400 $618,290 LEGUMES PLUS Comparative Balance Sheet December 31, 2017, 2018, and 2019 ansa 2010 LEGUMES PLUS Comparative Balance Sheet December 31, 2017, 2018, and 2019 2019 2018 2017 Assets Cash $407,000 $386,450 $356,367 Accounts Receivable 85,430 82,670 79,230 Inventory 128,080 40,036 52,142 Equipment 182,006 23,400 111,701 Total Assets $802,516 $532,556 $599,440 Liabilities $95,200 $91,455 $89,467 62,430 86,331 87,197 Salaries Payable Accounts Payable Notes Payable Equity Common Stock 63,222 67,880 68,312 25,464 22,590 23,188 Retained Earnings 556,200 264,300 331,276 Total Liabilities and Equity $802,516 $532,556 $599,440 BEAN SUPERSTORE Comparative Income Statement Year Ended December 31, 2017, 2018, and 2019 2019 2018 2017 Net Credit Sales $1,000,000 $984,400 $875,350 BEAN SUPERSTORE Comparative Income Statement Year Ended December 31, 2017, 2018, and 2019 2019 2018 2017 Net Credit Sales $1,000,000 $984,400 $875,350 COGS 450,000 419,600 388,950 Gross Margin $550,000 $564,800 $486,400 Expenses 115,000 125,000 100,000 Net Income (Loss) $435,000 $439,800 $386,400 LEGUMES PLUS Comparative Income Statement Year Ended December 31, 2017, 2018, and 2019 2019 2018 2017 Net Credit Sales $1,256,300 $1,020,570 $967,478 COGS 500,000 580,320 465,780 Gross Margin $756,300 $440,250 $501,698 Expenses 200,000 175,450 169,422 Net Income (Loss) $556,300 $264,800 $332,276 A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. Round your answers to two decimal places. Bean Superstore Legume Plus ART 2018 times times ART 2019 times times times A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. Round your answers to two decimal places. Bean Superstore Legume Plus ART 2018 times ART 2019 times times B. Compute the number of days' sales in receivables ratios for each company for 2018 and 2019. Assume 365 days a year. Round your answers to two decimal places. Bean Superstore Legume Plus Days' Sales 2018 days days Days' Sales 2019 days days C. Which company is the better Investment and why? a. Legume could be the better investment because the 2019 tumover rate is close to Bean, but the trend is upward, while Bean is downward b. If one considers other factors such as net income, Legume shows a big jump in 2019 for net income, and greater cash on hand and receivables than Bean c. Bean could be considered the better investment because its net income, while lower than Legume's in 2019, is much less volatile and therefore less risky d. All of the above statements may be correct