Ch 01 Ex 1-116 1 7 point Saved Exercise 1-11 (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 Merchandise Inventory Cash 500x Hint Baterials inventory Mork in process Inventory Finished goods Inventory Accounts receivable, net Prepaid expenses Company Company $8,000 $6,000 41,500 38,500 28,000 48,000 62,000 3,000 78,000 680 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 Ask