The financial statements for Armstrong and Blair companies for the current year are summarized below:

Selected data from the financial statements for the previous year follows:

The companies are in the same line of business and are direct competitors in a large metropolitan area. Both have been in business

approximately ten years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blair

Company is more conservative, and as its president said, $"$We avoid what we consider to be undue risk." Neither company is publicly

held. Armstrong Company has an annual audit by an independent auditor, but Blair Company does not.

Required:

Complete a schedule that reflects a ratio analysis of each company. Use ending balances if average balances are not available.

$($Round intermediate calculations and final answers to $2$ decimal places.$)$

HINT: To calculate Current Ratio, you will need to first calculate the total Current Assets.