xercise 18-11 (Algo) Balance sheet identification and preparation LO P1

End-of-year current assets for two different companies follow. One is a manufacturer, Rayzer Skis Manufacturing, and the other, Sunrise Foods, is a merchandiser.

Account	Company 1	Company 2
Cash	$ 13,000	$ 11,000
Merchandise inventory	47,000
Raw materials inventory		44,000
Work in process inventory		32,000
Finished goods inventory		52,000
Accounts receivable, net	60,000	71,000
Prepaid expenses	3,000	600

1. Identify which set of numbers relates to the manufacturer and which to the merchandiser.

2a. & 2b. Prepare the current asset section of the balance sheet at December 31 for each company.