( L016-6 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: eed to edit, it's safer to stay in Protected View. To begin your assignment you gather the following financial data and ratios that are typical on companies in lydex Company's industry: 3. You decide. finally, to assess the company's liquidity and asset management. For both this year and last year. compute: a. Working capital. b. The current ratio. c. The acid-test ratio. d. The average collection period. (The accounts receivable at the beginning of last year totaled $1,560.000.) e. The average sale period. (The inventory at the beginning of last year totaled $1,920.000.) f. The operating cycle. g. The total asset turnover. (The total assets at the beginning of last year totaled $12,960.000.) 4. Prepare a brief memo that summarizes how Lydex is performing relative to its competitors