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The following information applies to the questions displayed below) You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Lydex Company Comparative Balance sheet This Year Assets Current assets: Cash $ 1, 270,080 Marketable securities 380,080 Accounts receivable, net 2, 980, one 2, 080.080 Inventory 3. 678, 980 2.280,808 Prepaid expenses 270, 80 210, ege Total current assets 7, 958 , 688 6, 868,080 Plant and equipment, net 9.660, 080 Total assets $ 17, 618, 080 $ 15, 180,080 Liabilities and Stockholders Equity Liabilities Current liabilities $4,088 , 280 3. 120,080 Note payable, 10x 3. 728 908 3. 128, 680 Total liabilities 6. 240,980 Stockholders equity! Common stock, $78 par value Retained earnings 2810,ege Total stockholders equity 8.940,808 Total liabilities and stockholders equity $27 610,080 $ 15. 180,080 Lydex Company Comparative Income Statement and Reconciliation this Year Last Year sales (all on account $ 15, 930, 808 $ 14, 280.206 cost of goods sold 12.744 . 890 iross margin 3,186, 808 3. 520.986 selling and administrative expenses 1, 214, 808 Net operating income 1, 072 , 808 Interest expense Net income before taxes 1, 625, 080 Income taxes (Bex) Net income Common dividends 328,606 Net income retained 878 ,859 Beginning retained earnings 1,948 ,608 1. 370,989 Ending retained earnings 5 2.810,808 2 1, 940, 080 To begin your assignment you gather the following financial date and ratios that are typical of companies in Lydex Company's industry: Current ration Acid test ratio Average collection period 32 days Average sale period 69 days Return on assets Debt to equity ratio 8. 7 Takes enterget earned matta Prace carnanes racially Problem 14-15 Part 3 (Algo) 3. You decide, finally, to assess the company's liquety and esse: management, For both this year and last year. comp 2. Working capital b. The current ratio, (Round your final answers to 2 decimal places.! c. The acid-test ratio. ( Round your final answers to 2 decimal places.) . The average collection period. (The accounts receivable at the beginning of last year totaled $1740.000.) (Use 365 days in Round your Intermediate calculations and final answers to 2 decimal place.) e The average sale period, (The inventory at the beginning of last year totaled $2100,000.) (Use 365 days In a year. Intermediate calculations and final answers to 2 decimal place.) Round y The operating cycle. (Round your intermediate calculations and fina answers to 2 decimal place 3The total asset turnover (The total assets at the beginning of last year tore e $13140 000.) (Round you
