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.

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.
 

 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.

Explanation

1.
Company 1 = Sunrise Foods
Data shows a merchandising firm as there is only one inventory item, Merchandise Inventory.

Company 2 = Rayzer Skis Manufacturing
Data reveals a manufacturing company as there are three inventory categories (Raw materials, Work in process, and Finished goods).
 

Prepare the current asset section of the balance sheet at December 31 for Company 1.

 

Prepare the current asset section of the balance sheet at December 31 for Company 2.

Thanks