tion Completion Status: 4 5 7 9 TRY bal Company and Local Company are competitors in the same industry. Selected financial data from their 2020 statements follow. Balance Sheet December 31, 2020 Cash Accounts receivable Inventory Investments Intangibles Property, plant, and equipment Total assets Accounts payable Bonds payable Preferred stock, $1 par Common stock, $10 par Retained earnings $ 40,000 145,000 220,000 130,000 43,000 550.000 $1.078.000 $ 190,000 310,000 160,000 310,000 148.000 $1.078.000 Income Statement For the Year Ended December 31, 2020 Global Company Total liabilities and capital Global Company Sales Cost of goods sold Selling and administrative expenses Interest expense Income taxes Net income Local Company