Total Balance Total Balance Total Balance Total Balance Co. 1 ASSETS Assets Co. 2 Assets LIABILITIES Co. 1 Assets Co. 2 Assets Current assets Current liabilities Cash $ 5,261 $ 306 % Accounts payable $ 12.239 S 659 Investments $ 4,190 %6 $ 355 % Short-term debt $ 1,149 % $ 0 % $ 8,007 $ 214 Accounts receivable Inventory % Other short-term 96 liabilities $ 5,318 $ 481 $ 0 s 118 % $ $ 13,388 % ls 777 % $ 22,776 $ 86 1,356 302 % $ % Total current liabilities % Long-term debt Other liabilities $ 2.851 $ 3 $ 4,892 % $ 58 Total current assets Long-term investments Net plant, property and equipment Goodwill Intangible $ 9.853 % $ 1,381 % Total liabilities S 21,131 % $ 838 % $ 5,301 %6 58 % OWNERS' EQUITY 9 69 $ 6.113 %s 16 $ 3,057 % 1,016 Other $ 3.750 % $ 88 $ -6,618 %6 S 0 % Common stock % Treasury stock Retained earnings Total owners' equity $ 30,309 %6 $ 1,347 %6 $ 26,748 % 2,363 % TOTAL LIABILITIES % AND OWNERS' EQUITY TOTAL ASSETS S 47,879 100.00 % 3,201 100.00 $ 47,879 100.00 % $ 3,201 100.00 % Common-size financial statements. The balance sheet information for two companies is in the popup window: B. Complete the common-size balance sheet for these companies. Review each company's percentages of total assets. Are these companies operating with similar philosophies or in similar industries? What appears to be the major difference in financing for these two companies? Complete the table below: (Round up to two decimal places.) % of % of Balance Total Total Balance Co. 1 ASSETS Co. 1 Assets LIABILITIES Assets Current assets Current liabilities Cash S 5,281 % Accounts payable $ 12,239 Investments S 4,190 % Short-term debt S 1,149 96 Accounts receivable S 8,007 % Other short-term Inventory S 5,318 %6 liabilities S 0 %6 Total current assets S 22,776 % Total current liabilities $ 13,388 Long-term investments S 86 S 2.851 96 % Long-term debt Other liabilities Net plant, property S 4,892 96 and equipment S 9,853 % Total liabilities S 21,131 Goodwill S 5,301 % OWNERS' EQUITY S 8,113 S 3,057 Intangible Other S 3.750 % Common stock % Treasury stock Retained earnings s -6,618 S 30,309 %6 Total owners' equity S 26,748 %