The financial statements for Armstrong and Blair companies for the current year are sum Armstrong Company Blair Company Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Other non-current assets Total assets Current liabilities Long-term debt (10%) Share capital Contributed surplus Retained earnings Total liabilities and shareholders' equity Statement of Earnings Sales revenue (1/3 on credit) Cost of sales Expenses (including interest and income tax) Net earnings $ 35,800 32,000 185,000 155,000 93,000 $ 500,800 $ 120,000 99,000 166,000 24,000 91,800 $ 500,800 $ 30,000 38,000 32,000 480,000 324,000 $ 904,000 $ 47,000 90,000 580,000 128,000 59,000 $ 904,000 $ 530,000 (291,500) (180, 200) $ 58,300 $ 890,000 (445,000) (338,200) $ 106,800 our year follows: Selected data from the financial statements for the previous year follows: Armstrong Company $ 28,000 84,000 99,000 Blair Company $ 48,000 32,000 90,000 Accounts receivable (net) Inventory Long-term debt Other data: Share price year-end Income tax rate Dividends declared and paid Shares Outstanding $ $ 18 30% 44,000 15,000 $ 15 30% $230,000 50,000 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: 1. Complete a schedule that reflects a ratio analysis of each company. Use ending bal (Round intermediate calculations and final answers to 2 decimal places.) HINT. To calculate Current Ratio, you will need to first calculate the total Current Asset Ratio Armstrong Company Blair Company Profitability ratios Gross profit percentage % % Profit margin % % Famings per share per share Asset turnover ratios Fixed Asset turnover times times per share Receivables turnover times times tines times Inventory turnover Liquidity ratios Current ratio Market tests Pricelearnings ratio Dividend yield ratio 9 %