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2a.

2b.

Exercise 18-7 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 $ 5,000 $3,000 48,125 51,125 35,000 55,000 60,000 77,000 2,500 500 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. Which of these company is manufacturer Which of these company is a merchandiser Sunrise Foods Balance Sheet-Current Asset Section Fiscal Year-end Total current assets 0 Rayzer Skis Mfg. Balance Sheet-Current Asset Section Fiscal Year-end Total current assets