Plunkett Co. and Herring Co. are two companies with the following assets and liabilities: Plunkett has total assets of $1,421,500 including $925,500 in current assets. Herring has total assets of $1,760,000 including $1,143,700 in current assets. Both companies have current liabilities of $307,500 for Plunkett and $350,000 for Herring.