The companies are in the same line of business and are direct competitors in a large metropolitan area. Both have been in business appraximately 10 years and each has had steady growth. Despite these similarities, the management of each has a different viewpoint in many respects. Blair is more conservative, and as its president said, "We avcid what we consider to be undue risk." Both companies use straight-line depreciation, but Blair estimates slightly shorter useful lives than Armstrong. No shares were issued in the current year and neither company is publicy held. Blair Company has an annual audit by a CPA, but Armstrong Company does not. Assume the end-of-year total assets and net equipment balances approxcimate the years average and all sales are on account 1. Calculate the following ratios. TIP: To calculate EPS, use the balance in Common Stock to determine the number of shares outstanding. Common Stock equals the par value per share times the number of shares. (Use 365 days in a year. Do not round intermediate calculations and round your final answers to 2 decimal places. Screen Shot 2018-12-03 at 9.41.13 PM.jpg The financial statements for Armstrong and Blair companies are summarized here 1. Calculate the following ratios. TIP: To calculate EPS, use the balance in Common Stock to determine the number of shares Arnstrong Blair outstanding. Common Stock equals the par value per share times the number of shares(Use 365 days in a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) Cenpany Coapany 32,000 S 19,000 27, o00 94,000 quipment, Net 174,000 294,000 S 94,000 44,000 148,000 408,000 2T, DOO 107,000 1 Net Profit Margin 2. Gross Profit Percentage 3 Fixed Asset Tumover 9.521% 45.12 % Sote Payable long-tern) Total Liabilities Conmon Stock (pr $10) ddit Lonal paid-in capital Retained Tarninga Total Liabilities and Stookholders' Equity Incone statenent 24.411% 5. Enrnirgs per Share 6.Price Eamings Ratio $441,000 801,000 Cost of Goods Sold Other Expensers 15T 000312 000 7. Receivables Turnover Other Data Estinated vale of each share at end of Seleeted Data Accounto Receivable, Net Days to Collect LT,000 35,000 8s,000 174,D0 294,000 9. Current Ratio Equipment, Set Note Payable (long-term) Total stockholdez Equity 228,D0 37,000