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PLEASE HELP :( You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you
PLEASE HELP :(
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 Last Year Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses 965,000 1,350,000 300,000 2,080,000 2,200,000 210,000 6,140,000 9,120,000 $17,545,000 $15,260,000 2,980,000 3,670,000 270,000 7,885,000 9,660,000 Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Note payable, 10% 4,080,000 2,500,000 3,120,000 5, 620,000 3,720,000 7,800,000 Total liabilities Stockholders' equity: Common stock, $70 par value Retained earnings 7,000,000 2,640,000 9, 640,000 $17,545,000 $15,260,000 7,000,000 2,745, 000 9,745, 000 Total stockholders' equity Total liabilities and stockholders' equityStep by Step Solution
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