Exercise 18-7 Balance sheet identification and preparation LO C4 Current assets for two different companies at fiscal year-end 2017 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 46,750 49,750 34,000 54,000 64,000 78,000 4,000 800 Required: (1) Identify which set of numbers relates to the manufacturer and which to the merchandiser. (2) Prepare the current asset section for each company from this information. Req 1 Reg 2 Company 1 Req 2 Company 2 Identify which set of numbers relates to the manufacturer and which to the merchandiser. Which of these company is manufacturer Which of these company is a merchandiser Req 1 Reg 2 Company 1 Reg 2 Company 2 Prepare the current asset section for company 1 from this information. Company 1 Sunrise Foods Balance Sheet-Current Asset Section December 31, 2017 Total current assets Reg 1 Reg 2 Company 1 Reg 2 Company 2 Prepare the current asset section for company 2 from this information. Company 2 Rayzer Skis Mfg. Balance Sheet-Current Asset Section December 31, 2017 Total current assets