the financial statements of two companies competing in the same ind Comparative ratio analysis A1 P3 Fargo Company Company Ball Fargo Company Company the current year-end balance sheets Data from the current year's income statement $393,600 $667,500 20,000 $ 36,500 Cost of goods sold 77.100 290,600 480,000 12.300 2,300 61,700 70,500 Interest expense 5,900 Current notes receivable (trade) Merchandise inventory Prepaid expenses. Plant assets, net... Total assets 11,600 9,000 Income tax expense 86,800 82.000 Net income 9,700 33.850 1.27 10,100 -252.300 $382,100 $460,400 Basic earnings per share 2.19 176,900 2 Beginning-of-year balance sheet data Accounts receivable, net ...$ 72,200 $73.300 Liabilities and Equity Current liabilities . . .$90,500 Long-term notes payable Common stock, $5 par value $ 97.000 Current notes receivable (trade). 105,100 80,500 383,400 443,000 . 93,000 93,300 Merchandise inventory 133,000 141.000 Total assets . .. . 65,600 129,100 Common stock, $5 par value 133,000 141,000 109,700 ..4 49,100 $382,100 $460,400 Retained earnings Total liabilities and equity