Exercise 01-7 Balance sheet identification and preparation LO C4 Current assets for two different companies at fiscal year-end are listed here. One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company. Account Cash Raw materials inventory Merchandise inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses Company 1 Company 2 $14,000 $12,000 44,000 47,000 32,000 52,000 59,000 67,000 3,000 600 Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section for each company from this information. Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Req 2B Prepare the current asset section for Company 1 from this information. Sunrise Foods Balance Sheet-Current Asset Section Fiscal Year-end Total current assets $ 0 Exercise 01-7 Balance sheet identification and preparation LO C4 Current assets for two different companies at fiscal year-end are listed here. One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company. Account Cash Raw materials inventory Merchandise inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses Company 1 Company 2 $14,000 $12,000 44,000 47,000 32,000 52,000 59,000 67,000 3,000 600 Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section for each company from this information. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Prepare the current asset section for Reg 28.ny 2 from this information. Rayzer Skis Mfg. Balance Sheet-Current Asset Section Fiscal Year-end Total current assets $ 0