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Required: (1) Identify which set of numbers relates to the manufacturer and which to the...

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Accounting

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.

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 Company 1 Company 2
Cash $ 7,000 $ 5,000
Raw materials inventory 39,875
Merchandise inventory 42,875
Work in process inventory 29,000
Finished goods inventory 49,000
Accounts receivable, net 61,000 67,000
Prepaid expenses 3,500 700

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